@Deepak Malhotra based on your sales price, I assume this was also sold many years ago.

Hello all,Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?

I purchased a number of properties this way, and sold a few too, with nary a problem arising. 

Surprisingly, these homes that once sold for $7,000 are now selling for close to $1,000,000 and it doesn't seem as though the rate of appreciations is decreasing anytime soon. 

@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I haven't sold yet, I've been analyzing property to get a head start on the 45-day timeline of identifying the potential replacement property (and because I enjoy analyzing property). 

We sold our (primary) home recently.

I am sure it will all work out for you in the long run.. we sold ours and made a tiny profit on each but its better than a loss right ?

If I had known the numbers they quoted me were total garbage, I could have sold my houses much earlier and saved about $80K in losses.

did half the flip work, sold with new walls and new electric/plumbing.