The seller's LLC pays capital gains tax and depreciation recapture, while the buyer's LLC uses the purchase price as the new cost basis.

- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.

@Bob Dole Two other benefits of CSS and accelerated depreciation via a cost segregation study: partial disposition and the death step-up basis.  

It is my understanding that gifting a property does nothing to step up basis as the capital gains would follow the gift. 

planning to list them for 2024 taxes as 6 different properties and when rehab will be done , I will get all 6 deeds, can I sell individual condo and 1031 based on basis I will show?

with the information provided can someone please give me our cost basis so I can figure total capital gains?

@Nick Rivers If you've already taken courses and webinars, then the only thing that will help you become more proficient is by actually underwriting deals on a regular basis. 

I'm wondering if that might be less of an issue for something more rustic and temporarily occupied like camping/RV.Any one have any thoughts, parallel experiences, or other basis for insight? 

If it is a direct lender you are able to work to find more favorable terms because they usually determine their terms on a deal by deal basis. 

At least now your tax basis is $220k ;-)  What was the extent of the repairs?