This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?

Quote from @William Taylor: Quote from @Addy Chupa: Hi William,I ran some numbers using our tool, and I’ve included my thoughts below, along with two scenarios: one based on your exact assumptions and another with adjusted figures that I believe could make the deal work better.Observations on Your Numbers Utilities: Based on your calculations, it seems you’ve assumed the tenants will cover all utilities.

I've been informed that completing the course alone may not be sufficient to pass the exam, so I’m seeking advice on how to prepare effectively once I complete it.Currently, my only other resources include a YouTube video, five practice exams, and a textbook.If you have any additional suggestions—whether online or in-person, paid or free—that could help me effectively prepare for the exam, I would greatly appreciate them.

However, the 1031 exchange only applies to the real estate component or real property, of the business, not the business itself or its non-real estate assets.In other words, while you can exchange real estate used in your business for other like-kind real estate, the business itself, including goodwill, equipment, and other non-real estate assets, does not qualify for a 1031 exchange.To maximize your tax deferral, focus on the real estate portion of the sale.

Not including closing costs. 

Instead, roll the funds into an IRA or Self-Directed IRA (SDIRA) to keep them tax-deferred and open up flexible investment options, including real estate.

Exceptions include delays caused by factors outside the Subcontractor’s control (e.g., weather, material delays).5.

Local or out of state work if the deal is right. in fact, consider including the numbers for a property manager anyway.

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.

This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?