You can sell and not have to pay any capital gains taxes. 

How much of a gain will you have on the property?

Hey All, If anyone out there in the community fits the title description, id love to buy lunch, dinner or coffee and gain some knowledge.

All I can say is that I set out about 5 years ago to gain financial freedom!

1) If you own an investment property, with 1031 Exchange I can sell the investment property and buy a like-kind property and defer capital gain taxes.

I want to start with my first deal out of state, but I've been looking a lot of houses and neighborhoods but the ones I qualified with a conventional loan has to be livable, so I can't buy something that I can gain equity by fixing it up, so I can't meet at least the 1 % rule, max is 0.7% should I buy or what to do??

Excited to learn more from other members of this forum.Part of the reason I am working on my license is to gain knowledge and possibly use myself in future transactions.

@Weston Couch,if you plan in advance you can gain access to your retirement funds without penalties.

if your going to buy a rental you need down payment closing cost and a minimum of 10 to 20k in reserves this goes down as you gain doors of course. 

At the end of the day I am paying taxes on a little over $1000 capital gains on the sale of a $1.2M portfolio.