If I sell there's no capital gains tax, if I rent I could get around 1560 a month but it will need a new roof and a/c units.

So I satisfy the “2 out of 5 years” rule that allows the home sales profit from capital gains tax exclusion.I was wondering what documents do I need to submit when filing taxes for 2018.My tax person says that no documents need to be submitted to prove that, and me just claiming It is enough.Looking for second opinion.Thanks,Animesh

It can be either ordinary gain or capital gain ( short term if you sell before a year)depending on how you plan and document your intent.

His funds seem limited which is why he is confused about getting into a smaller deal.I would recommend the OP search for PM clients to build experience, gain more investor contacts, and hopefully close a deal that he can participate in.

The post, seen on Facebook and in emails and texts, asks for a fee of around $10 to gain access to a potential homebuyer’s email and phone number. 

I have learned a tremendous amount by attending events when I can, learning and gaining confidence from people that are playing the game at a level I can aspire to.

I sold off a large chunk of stock to show an "available cash" in my brokerage account when making all cash offers.Over the past several days the market did great and I lost out on the gains.

I’m thinking of selling to pull some money out, but know I need to do a 1031 exchange to avoid paying capital gains on just about the entire sale price.

Here's the numbers:Purchase: 136k, 5% down = $6800 + closing costs and prepaid insurance will be roughly 10k downARV: 175-180k, have to see how the neighborhood does in the next year, my realtor firmly believes 180.Rehab: 15-20k, all done by us.So after putting 20k into the property, that leaves roughly 24k of capital gains tax. 

I'm here to learn and see what I can do to gain schedule freedom.