This way, you can offset other income and potentially reduce your tax liability.I recommend discussing your options with a tax professional who can provide personalized advice based on your overall financial picture.

City Hall want to keep small town small, does nothing to promote town Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

Estimating is both art & science and FWIW most professional estimators rarely get it spot on, usually operating within a Delta.There's tons of estimating books, software etc.

Looking to connect with fellow investors, developers, and professionals who are interested in leveraging design to maximize their real estate ventures. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

•If your goal is stable long-term tenants, you may want to target young professionals or grad students who stay year-round.4.