I'm a small landlord with one tenant (I have two tenants total) in San Bernardino County who stopped paying rent since June 2020, making different claims--work hours reduced and that he's "having difficult times because his coworker died from COVID".

do you guys prefer to only invest in newer homes  i.e. built after a certain year to reduce the possibility of having to do a lot of reno on wiring, plumbing, etc. or does it just depend on seeing the house and determining the condition that its in?

Unless you can get the price significantly reduced, walk away Tim!

This year I sold a rental property with a capital gains of 60kI’m looking to reinvest in something that will reduce my tax liability.

@Bao Vu The purchase price and related expenses from 2023 should be included in the cost basis for the flip sold in 2024, reducing your taxable gain.

I start with market rent or a little less to reduce vacancy.

Using your $100K example, the 6% seller assist is far more valuable to this buyer than merely reducing the purchase price by $6K because the 6% seller assist is a $6,000 reduction in funds required to close whereas reducing the purchase price by $6K equates to less than a $200 savings (2.5% down payment + some incidentals).

.- Getting under contract and then reducing the price because of findings is common, but major reductions are likely to tick off the seller unless you have strong justification.

We also were able to get the property taxes reduced by filing a complaint with the county.

-Should I reduce my price offering?