It's worth about $350,000 and no liens.I was thinking about making it a midterm rental or a short-term rental but it would require quite a bit of work and would require getting a home equity loan.Also considering selling and buying a turnkey str.I do plan on leaving the country and I'm not sure where I'll end up.Would love to hear the pros and cons from all you professionals.

What Is BPCONBPCON [The BiggerPockets Conference] is the premier annual gathering for real estate investors, bringing together industry leaders, seasoned professionals, and newcomers to learn, network, and grow.

Always underwrite conservatively Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My passion lies in expanding my portfolio of long-term rentals and diving into property flipping as I grow in this journey.My main goals are to connect with like-minded investors and professionals, share experiences, and soak up as much knowledge as I can from this incredible community.If you’re based in Georgia or working on similar projects, I’d love to connect and hear about your journey!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The facilitator’s address was in a mobile home park, and the bank account could not be verified.Inconsistent Identification: Despite receiving a copy of Chris Anderson’s driver’s license, phone number tracing showed no connection to him.Incident 2: 2nd Financial Opinion ServicesThis entity appeared more sophisticated but was equally deceptive:Authentic-Looking Documentation: The LLC was legitimately registered in Missouri, with a seemingly professional website and clean background checks.Misleading Identification: After requesting proof of legitimacy, a passport with the supposed principal's photo and corporate documents from the State of Missouri were provided.

It’s one of the few places where you can realistically achieve solid returns without needing a massive upfront investment.If you’re open to exploring other markets, Detroit might be worth considering.

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

Going live as a STR in 2 weeks Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Use the professionals and ask a lot of questions.