On our recent fund when we sell off the performing notes in year 5, that will be a capital gain from the difference from the adjusted cost basis of the assets to the net sales income, but the income to our fund members from the loan payments up to that point will be ordinary income. 

You can sometimes gain a lot of info from those calls.

(Hands-off or hands-on.)I like STRs as a way to make money while you wait for a property to gain value, but at least for us, cash flow is simply the icing.

It may end up being a loss or small gain, but most of them won't end up being a fire sale. 

You would gain some much insight just by starting there. 

Quote from @Andrew Steffens: I am curious what strong buyers market is making huge equity gains? 

But thats part of the being OOS and as I gain more experience and I better team I can minimize that.

Living in the property for two years likely allowed you to claim the capital gains exclusion... up to $250K for singles or $500K if married.

Remember, thinking long-term and taking imperfect action is key to building wealth and gaining experience.Good luck!

Looking to connect with others and see what knowledge I can gain and what I can offer.