Did you have a note and mortgage or just a sale agreement? 

Similarly, the sale ($575K) minus your adjusted basis determines your capital gain.You may qualify for the primary residence exclusion (up to $250K single/$500K married) if you lived there 2 of the last 5 years.

Just keep a good record of your SREO and hang onto the HUDs that you've had from both your purchase and your sales.

In the last 18 months various states have instituted new rules, regulations or laws related to (1) need for licensure to wholesale (2) restrictions on marketing of a property in which you do not have ownership and (3) disclosure requirements when dealing with a homeowner that makes it clear to the homeowner that the contact signed with the wholesaler is not a definitive “sales” contract, therefore making it less likely home owners will sign4.

LouisReleasing Federal Land for private sale? 

Chris, Agreed & I see a VERY low probability that interest rates will be in 4s or 5s in 2025, so those deals with variable rate debt will likely continue to bleed. no chance rates will be in the 4s  potentiall higher or mid 5s though.. we just locked in a 6% so getting close. 

The game plan would be to keep this structure for 1-2 years with future full sale.

We don't want to bring on every owner or every property unless they fit within our target market, so, I do the far majority of the sales - this is our check and balance.

At the time of sale, we would amend our existing mortgage to ensure the sold property is no longer collateral for that mortage. 

We have explored disposing of the asset multiple times and the same comes up during sale.