Where it goes wrong is people use it to renovate and sell a property but it takes a lot longer and they get caught paying all the penalties and fees which are a crusher.

If I sell the house for what I bought it for net of costs, I would think that there would be $100k in gain + recapture.

Hey Danielle.I'm going to go in a different direction than some of the other commenters.I am an agent, and depending on your state, getting licensed can be a BIG commitment, both time- and cost-wise.I wouldn't recommend getting licensed unless you want to work as a real estate agent, helping people buy and sell properties.

Information is power and there is a lot available for anyone willing to look deep enough.In December 2023, Scranton home prices were up 16.7% compared to last year, selling for a median price of $175K.

This makes cash flowing properties hard to come by imo.Several of my local investor club buddies are sitting on the sidelines, selling some inventory and building a cash hoard.Happy to help with info - as always - do your due diligence and do not blindly listen to some random poster on web sites.Good luck

Listen, I'm not looking for your opinion on drug addicts, either your opinion on what you THINK the neighbors will think or feel about  a Sober Living house being in their neighborhood.  

I am trying to find out what happens to the property if it doesn't sell at auction. 

That if the property is worth $500k, and they are owed $100k, that if it sells at auction for $500k they get all the money6.

Fortunately, we have never had a rental anywhere that there was rent control, and if rent control is ever started in anyplace we have rentals we will sell out. 

Hi everybody.I have a question on the tax/legal side here.Does an LLC created in the United States under the law of the U.S. and the any state, whose managers/members are foreign individuals, is subject to the FIRTPA withholding when selling a U.S. real estate property ?