Unfortunately it sounds like you've already missed your capital gains exclusion if you've been renting it out for more than 3 years, as it's 2 of the past 5 years. 

Barron I would only consider selling if the gain would allow me to buy a better property with considerably more cash flow.

I simply recommended the seller finance structure based on the current market rates to make it easier to sell since he has better rates than can be gained financing traditionally.

This is a two-way interview, so have a short list of questions to ask the mentor (What books do you recommend I read to gain a better understanding?

It recently dawned on me the idea of a non military affiliated individual assuming a VA loan, would this individual be able to then also gain the benefit of using an IRRRL since they have now acquired a VA loan through assumption?

@Bao Vu The purchase price and related expenses from 2023 should be included in the cost basis for the flip sold in 2024, reducing your taxable gain.

If you lived in the property for 2 out of the last five years then you wouldn’t pay capital gains up to a certain amount.

If you’d been holding around $620K from a 2019 sale and directed it toward a few properties like that.. especially if you leveraged financing.. you might’ve grown your portfolio’s total value well beyond what many Los Angeles holdings would have delivered over the same period.Then again, L.A. still has that unique mix of robust demand and limited supply.. from what I’ve heard, you can see impressive long-term gains there if you’re comfortble navigating tenant protections.

If you lived in the property you can sell it to capture the equity without paying taxes on those gains.

I think your issue is (if I recall your other post) that you don't have any experience as a co-host but are trying to gain it by offering your help for free.