Personally, I do not like any strategy or approach that aims to benefit from the misfortune of others.

If you decide to sell and find an investment property with a greater cash flow potential.A 1031 exchange would allow you to indefinitely all of the tax and use it to your advantage to reinvest into larger nicer property/properties.

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

Self How did you add value to the deal?

Security deposit will take care of the last month of unpaid rent, but I'm considering filing a small claims court lawsuit to get a judgement for recoverable damages.

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

Bank Credit Line How did you add value to the deal?

The price started at 120k and I counter-offered 90k to which the seller was going to accept.

Ivana here.

I will have to go over everything of what I want to do, and then have a talk with her to see if her goals align with mine.