Sold on 11/15/2024 for $249,900, this project highlights our commitment to creating value and achieving substantial returns.

FULL STOP  Your ability to make such a profit will depend on your ability to manage the asset better than the prior owner.As a seller, the broker should be helping you determine the price point, at that time, that attracts enough buyers to achieve an optimal sales price.

Quote from @Susan McBride: What are you trying to achieve? 

How quickly do you think you can achieve it?

They buck the passive rules for 469, and are considered active.BUT - As with any other business, to deduct the losses the owner must materially participate.Material participation is achieved by:1.

Also, achieving the 2 percent rule in my local market is near impossible but could be achievable elsewhere.Thoughts?

It is November 25th and there is only about 35 days left in the year with a lot of professionals who take off the last week of the year.Given that information, you will likely need to buy a poperty with a quick close to achieve what you are looking to do.

I purchased $4m Dec of 2021 and have one unit left to rehab (starting it Dec 1 and my 22 year old son will be running his 2nd rehab - it will be a live-in rehab so slower than we usually achieve).  

It would take several years to achieve that rate and you would have lost a ton of cashflow waiting for it to arrive.

Our goal is to start and grow our portfolio to achieve financial stability, more family time, the freedom to take vacations, and the ability to live life on our terms.