Quote from @Steve K.: You've gotten great advice here but one piece nobody has mentioned yet is the cost of the appraisal. $1,200 is super high in my experience. $300-600 is average if it's just a vanilla SFR, and even the last MF appraisal I had (8 units) was only $800.

It should be noted that basis adjustment does not apply to stocks held within other Qualified Retirement vehicles like Annuities, IRAs or 401(k) accounts.

Alternatively, if you have self-employment income, consider sponsoring a Solo 401(k), as it exempts leveraged real estate from UBIT altogether.

I recognize you got your definition of asset from Robert k, but it is not the typical definition of asset.  

K.

Quote from @Michael K Gallagher: @Daniel Vroman Rusteen I think there's just a general misunderstanding of the value an agent or local expert brings to the deal that you either do not wish to see or simply don't find value in it. 

Depending upon the state, it could take years for the state to sell the property for deficient taxes, but you should know the options.

I tend to just leave a piece of paper with where to send the rent check to...however some K Cups & Clorox Wipes would be a nice addition! 

We filed for foreclosure and also offered a deed in lieu and would waive a deficiency.

If nothing else, prices are down a couple of points this year in Denver, so that's a relative positive over my last purchase.If I was 20 years older, and had 20 more years of compounding and contributions in my 401(k), the private lending world would be a major part of my portfolio strategy right now, as I think yields are really attractive there.It's tough out there, but I trust what I know in small residential more than going all in on more index funds or bitcoin, and lending is just too tax inefficient until I have more time to build wealth in my SDIRA.