Before you pull the trigger on anything I would get some training or find a mentor in your area willing to show you the ropes. 

I've heard the rumblings of several states pushing for time limitations and out-right disregard for history but hadn't heard of anyone pulling the trigger (pun intended) quite yet.I would be happy to share our published rental application standards (defined for central Iowa, reviewed and approved by local real estate attornies) if anyone is in need.

Should have pulled trigger two years ago!

Only a sale will trigger the tax.However there are a couple issues here.1.

I had a gun pulled on me doing that, but we sorted it out before he pulled the trigger. ;-) 

Not to hijack your thread, but do any seasoned offshore real estate investors here know if foreign real estate investments over $50,000 trigger FATCA reporting requirements?

Knowing that this can trigger due on sale, would it still be advisable to the the Wrap?  

Finding properties to do a pure BRRRR in our area can be tough, so a lot of my clients end up pulling the trigger on STRs. 

I know they make a model that will alert you if the unit is disabled or if it is triggered by weed smoke. 

We are seeking to establish an estate plan to transfer these mortgages to Trusts without forfeiting tax benefits or triggering due on sale clauses.