That said, weigh the cost of renovations against the potential increase in appraisal.

Consulting a tax professional now can help structure ownership and financing efficiently, ensuring you take full advantage of deductions, depreciation, and potential tax-saving strategies like 1031 exchanges in the future.This post does not create a CPA-Client relationship.

If they qualify as tenants, you might need to honor tenant rights or negotiate a settlement to vacate.Market Potential: A two-family home and a single-family unit could be a great income-generating property post-rehab or resolution.

It’s surprising that fake reviews are allowed to remain unchecked on this platform.Question, If this post was a mistake, why is it left up to create confusion for potential investors?

In light of this, I have been exploring the possibility of pursuing creative finance options, specifically seller finance deals, as a potential means to achieve my goals.

If you had identified the property, the cost and the travel cost would have been added to the basis of the property and depreciated.These initial investigatory costs are treated differently for flipping and rentals.1) Flipping: The travel cost to investigate will be treated as a business cost and deducted as an ordinary travel cost.

Just a heads up, we don't post our prices publicly because we raise them frequently given our growth, and don't want potential members to get outdated pricing information. 

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

The city offers a mix of high appreciation potential in certain areas and solid cash flow in others.

@John Chapman Since your insurance payout ($300K) exceeds your adjusted basis ($50K), you’re facing a potential $250K taxable gain.