I did just this in my two flat, it cost me around $150k to rezone, dig down, upgrade everything plus fee after fee after fee and materials after materials.

When dissolving your two-member LLC and selling a property, deferring capital gains taxes individually can be complex.

Imagine you make $100k and you are affected by 3 tax brackets.0-33k =-33K 0%33,001-66k 10%66,001 - 100k 20%You can take $100k in deductions this year and pay zero taxes, for one year and then $10,100 for for 2 years  ($20,200 total)You can take 67k in deductions this year and pay zero taxes for a year, take 33k the second year and pay $6,800 year two and $10,100 year 3. ($16,900 total)You can take 33k each year and pay $3,300 in taxes all 3 years. ($9,900 total)Obviously this is simplified but unless you expect to make much less and be in a lower tax bracket in the future those deductions could come in handy.

There are two kinds of bankruptcy individuals can file.

I recently worked on an amendment to some condo plans we did 15+ years ago and I had to re-calculate how we got to what was in the plans and the values changed over two or three iterations as the attorney represented what to include and exclude. 

If we were not able to raise the price of our homes by 20% or more we would had to stop.. my LORI plan started at 600k sold two of them and made our normal 100k net.. last loris I sold 36 months later went for 850 to 900k and we made right at 250k NET on those ones.. so it was very specific to plans that CASH buying empty nesters wanted ..

Two thoughts:-- To your direct question ...

I would like to do something similar and was wondering on those two questions. 

As a PRO member, I purchased this 8-week Momentum package two weeks ago and am still waiting for the Zoom Meeting information, as it starts tomorrow at 2:00 p.m.

I plan to buy one or two more properties with the $200k, but then I will be out of capital.