The insights I’ve gained so far have been invaluable, and I’m eager to expand my network and grow alongside other professionals in the field.

Figure out the state and federal capital gains tax and depreciation recapture after selling costs.

Accurate records of all expenditures are essential to claim deductions and calculate the cost basis for future capital gains taxes, including depreciation recapture.This post does not create a CPA-Client relationship.

Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.

If your goal is cash flow, then your best bet may be to live in it for 2 years, and then take that tax free gain (250k single person, 500k married) and buy elsewhere. 

Really just trying to build a solid base and gain as much knowledge as possible and eventually specialize in something.  

If not, should I sell stock that I have that has capital gains that would be due on it and offset that?

My goal is to gain a solid understanding of the process, master deal analysis, and ultimately close my first deal.Right now, I’m focused on learning the basics — from finding motivated sellers to building a strong network of cash buyers.

This allows new investors to gain experience while minimizing risk and maximizing returns right from the start. 

It’s a great way to lower your living expenses while gaining experience as a landlord.