The example that comes to mind are often are of folks that operated a dental practice, an accounting office, a bankruptcy lawyer and her staff that did quite well in the 2008 aftermath, and so on, during those first few years, taking up a portion of or all of the space.Once you realize what a dumpster fire it is finding good financing for offices, if you need it, I'll be available. 

Could that bite our REP in year 5 when a big pile of ordinary earnings income is realized (if they don’t 1031 and defer it)?

I realized we would not get the same valuation as the main home but at $130k for 440sq ft I did not realize we could be in a negative equity position.  

Seeing it on paper like this makes me realize it doesn't hit the 1% rule either, but maybe because the taxes are pretty low?

It is very daunting as we are quickly realizing how much we don't know!

$89,000 profit realized after 3 years renting.

He's used the program to learn but wise enough to realize his own potential and live within his means while stepping away from his W2 and becoming an entrepreneur. 

I recently ordered a survey on the two lots I own, and realized that I may be approaching this the wrong way. 

I didn't realize the construction work is paid out of pocket and then reimbursed, so I had to nuke a lot of my bitcoin to pay for the first 12k worth of work to get the project started, so unless your lender gives you some construction money up front, you'll need to account for that too.

I realize that such a price drop might raise questions, and I’m curious about it myself.