I do realize that many have made decent money at the very low end of the market, but that takes quite a strong stomach, and I believe also was a function of particular market conditions which aren't likely to exist again any time soon (IE these properties got absolutely crushed in the downturn of a decade ago and were picked up for a song.

Either business attire or stuff I will wear at a show....When I'm at home, I usually can be found either in the home office doing real estate stuff or in the back band room working on a song, or a recording or setlist, etc.I understand my situation is unique. 

If the gain is enough they will choose to forgo the certificate and accept the withholding while still completing a 1031 to defer any remaining tax.2.

this subject has been talked about a bunch on BP.. why do people sell cash flow assets.the argument that they must be selling the dogs and keeping the good ones is not reality.I have been funding turn key companies for going on 20 years now.. they sell almost all their properties.they are in the business of buy rehab and sell.. they are not in the landlord business per se.. now some will have some properties but its not their goal to own hundreds of homes.. its hard to finance all of those first off.just like me who builds new homes why don't I keep them all.. well because I want to sell them that's my inventory to sell just like anyone else and I make more on one sale of a new home than I would with 20 years of cash flow at 200 a month.. so its what I choose to do..

Thanks for going through this with me!

At this point its never something I would forgo my day job for, but nonetheless is a nice retirement plan.

Many people live paycheck to paycheck and $200 a month is a lot of money to many renters.If you want to know what the place could rent for go visit 4 or 5 very nearby places that rent for what you think is market rent.Then go visit the target property.

You must prepare a form 3115 Change in Accounting Method in the current year to correct prior years and get the record set properly for going forward.The form is not for the faint of heart. 

I quit listening to my music on my local radio stations because I hated hearing 2 songs and 4 commercials, lol.

Thanks for going back in time for that story.