You also might be able to exclude some or all of the gain if it was your residence.

The home exterior is about 75% asbestos (excludes the front of house).

I see a lot of investors in my area going with the large guru group out of San Diego ( I'll exclude the name, but people can figure it out). 

Account ClosedFancy seeing you here, glad you found something :-)40% expenses is usually when you own or manage some of the utilties/infrastructure (well water, septic etc), and 30% is a ballpark where everything is city and direct or submetered (gas and electric excluded).But basically take the P&L during due diligence and rip it apart.

D, 506c – Unlimited amount raised, reviewed and audited statements excluded, very little reporting required, reasonableness of accreditation required, just file Form D and no review by SEC Regulation A+, Tier I - $20M and below, reviewed statements, anyone can invest, Onerous state-by-state review that is possibly streamlined by “coordinated review” for states that participate (possibly excluding NY, Massachusetts, and others (Florida?)

After that date, it was a rental property until now (we close mid April).I am under the impression that if I qualify for the section 121 exclusion, I would also be excluded from the CO 2% withholding by filling out a Colorado DR 1083 and marking principal residence.

@Jamaal McDonald  There are different schools of thought on retail value but here's the bottom line- Just because a property is sold as a foreclosure doesn't mean it should be excluded from comps.  

So I can exclude the entire profit?

Certainly not a good way of doing business if you are putting 10% down on every property in the MLS or any other type of excluding FSBOs for the bank to consider your offer.

You get into nuances about excluded people the owner may have already talked to, etc. but it can be worked out.