I would wait until you inherit the 50% from the father and sell it to avoid the the large gain as your father basis must be low compared to fair market value.

I just realized the Sec 121 exclusion is the capital gains exclusion for primary residence and unfortunately, that does not apply for me.

The VA loan is an awesome tool for military personnel to use, and works very well in an appreciating market to allow you to gain equity.

You might research the seller a little to see if there is something he is particularly interested in that you can gain some rapport.

I would love to meet some investors in the Philadelphia area and gain some knowledge on how this market runs.

I am currently working on interning for wholesalers to gain as much knowledge and experience as possible.

I think when you really understand IRR and do it for every investment, you begin to understand what it actually means and then you gain a VISION of the future of your Investment, which is what every Investor needs to do.If a Student gave me this IRR Spreadsheet, I would then tell him to at LEAST build the spreadsheet to ASSUME a 2.5% Increase in Rent Annually AND a 5% Increase of Expenses Annually.Now the same IRR Spreadsheet looks like this:The Purple Columns are new and your Cash Flows need to change.Do you see how easy this stuff really is and how you can take into account REAL WORLD examples of what is going on?

Going into this deal the mindset was to gain experience and thought of any potential "losses" as tuition to the school of hard knocks.

We will avoid capital gains tax because it's only been a rental for 1 year and we lived in it for 4.5 years before.  3) Keep the rental, take out a remodel or personal loan at aprox 5.5%  and do the updates. 

When you play the long game, the aggregation of minimal gains always leads to success.