Is there anything I can do to reduce the gain?

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Yes it's a huge problem.You should fix this correctly now.Open the walls and put in proper sound reducing insulation.

If  you chose to sell, there are a couple things you could do to proactively make the 1031 process much easier. 

You reduced the amount of untaxed capital gains you’re carrying forward but you didn’t create an expense or a deduction today.

None really reduce the amount of money they have to come up with, but if they are broke as a joke do you really want them as your tenants?

The real issue is that they didn’t have a plan to monitor usage or set up protections to minimize costs during the eviction process.Ideally, the PM could’ve done things like:Limit access to unnecessary areas to reduce power use.Install smart thermostats to keep heat at a safe minimum.Request a utility cap in court during eviction proceedings (if allowed in your area).Bottom line: It’s less about the utility switch itself and more about proactively managing costs once the tenant overstayed.bro what? 

Cross-Collateralization – A lender may finance the full $160,000 purchase by using your existing properties as additional security, lowering their risk and possibly reducing your down payment. 5.

Likely will reduce to whatever market rent is on 1007 report, if the Section 8 income is higher than market.

This lesser-known strategy could help you save money and reduce your monthly payments without the hassle and cost of refinancing.