@Sharetha H.How much time are you allocating to rehab and sell this house?

One way to push back with the Realtor, would be to ask them what expenses were allocated for repairs this year, and what repairs were completed. 

Hello All,     Ever since I had realized that the 10% rule for CapEx estimation is not always a good estimate, I've done my own estimations as to how much money should be allocated for CapEx in the Los Angeles metropolitan area.      

If so, your basis will be your allocable share of the basis in year 2000.

My Cash flow is $300+ and if I a managing the property and handling the eviction as you did that 10% I allocated for management would not exist and it would offset that additional repair cost by giving me an additional $380 of revenue monthly).

Depending on how soon you plan to buy that next property would dictate how I allocated those additional assets.Have you made your max 401K or IRA contribution for the year?

You can pay 15% capital gain tax on that and walk with $8500.If you build you'll still get an allocation of say $10K for the lot plus 15% of the construction cost ($20K ish). 

Realtors, loan officers, contractors are all pitching you a service and it is up to you to decide where to allocate your resources.

For example if you occupy 50% the house (based on sq footage, #of bedrooms)than you can allocate 50% of the capital gains at the time of sale towards the section 121 exclusion - the remaining 50% will be treated as investment income and possibly subject to depreciation recapture -this is assuming you are apportioning your mortgage interest and property taxes on the proper schedules when you file your taxes ( your CPA should be able to help you with this)I would love to have CPA weigh in and maybe they can provide some insight as to why you might be getting that advice

I set up a C Corp to do it, and make sure the annual deductions are greater than PM fees allocated to the PM company, or I and  the C Corp will be subject to double taxation.