I have been on BP a long time and maybe about eight years ago , a person had a small chance of finding a posted house for sale here that can be flipped.

The idea of debt-free is that if a person is going to retire and has to completely depend on the income, they don't want a severe recession surprising them and causing them to default on the debt and losing the properties.In a normal world, I would do that as well.

The answer to this question is really a personal one. 

Let's break it down with precision:The "Pain" (At First Glance):Your $2.8M sale splits out as:Building (§1250): $2.3MPersonal Property (§1245): $500KOriginal Basis Allocation:Building: $1.6M (depreciated over 27.5 years)Personal Property: $400K (fully depreciated)Building Depreciation:Annual: $1.6M ÷ 27.5 = $58,182Total over 10 years: $581,820Gain Breakdown:Building (§1250):Sale Price: $2,300,000Original Basis: $1,600,000Less Depreciation: ($581,820)Adjusted Basis: $1,018,180Total Gain: $1,281,820Unrecaptured §1250: $581,820 (25% max rate)Capital Gain: $700,000 (20% max rate)Personal Property (§1245):Sale Price: $500,000Adjusted Basis: $0Ordinary Income: $500,000The Strategic Play:Remember those suspended passive losses you couldn't use?

In my voicemail, it states if they are interested, to "press 1 to speak with a live person" or "press 2 to be added to our do not call list".

The tenant has two types of coverage: liability and personal property.

I had belatedly realized that FHA goes off personal credit and therefore I couldn't use the LLC for it.

I personally ALWAYS use 30 days as the time frame to close in.

.: I'd be tempted into doing an STR (maybe with a higher down payment to ensure cashflow, just run ROI numbers) or an apartment complex - I personally wouldn't mess w/ small stuff.

I have personally invested in these types of properties in Alamance county.If you're open to STRs there's properties up and down the coast as well as lots of mountain vacation properties out West in places like Asheville, Boone, Hendersonville, Cherokee.