How much is the property worth?

The seller would have to be paying us to take the property if we wanted to make that amount.We make use of the tools here on BP to help frame out a deal as well as using our knowledge of the local market to gauge what a property will be worth renovated. 

Let him take the stuff because it is not worth your time to store it and then sell it.

Remember to split the expenses and depreciation based on how much you rent it out versus using it personally. 

If they try to find another place, they’ll usually realize they already have a great deal and stay.8.Long-term tenants can be worth a slight discount.

If you're insuring a home to replacement cost, insurance companies don't care about appraisals or what the home is worth.  

Co-living is how I went from renting a room, Delivering Dominos, no savings, and not being able to qualify for a loan to financial freedom & a $2M net worth in 15 months.  

So, with the house now worth $2.2 million, they’d only be taxed on $1.35 million of the gain after the exclusion.2. **1031 Exchange:** Just a heads-up—1031 exchanges allow you to defer capital gains taxes when you sell a property and reinvest the proceeds into a "like-kind" property.

I’m interested in how others evaluate and track down these kinds of properties, especially from a distance.For example:When looking at distressed properties in other states or cities, what are your main indicators that it’s worth pursuing?

You'll want to enlist a CPA on this to assist you- Repeating the above for Cancun, since it's a vacation destination already, I'd almost guarantee you that you cannot write it off 100%In regards to travel, it's also important to remember that even if everything is used 100% for business, the IRS classifies business expenses being valid if they're "ordinary and necessary".