Note this calculation gets worse if you recognize the declining value of currency.  

the note is converted or exchanged for credits?  

Quote from @Patrick Albright: You could look at doing a 1031 Exchange to avoid any tax hits this year. there is no tax. 

Use 1031 Exchanges to Defer TaxesIf you’re selling a property, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into another property.

To wit, people might find this thread and exchange for years to come (I am cognizant of that future audience as I write this).

Or any amount of cash you take out from the exchange are considered to be profit. 

While my husband and his ex make a similar income and do not exchange child support due to us pointing that out in court a couple of years ago, she actively request all financial documents that she possibly can and examines our taxes, etc. 

We would like to connect to exchange our experience.

I'm also very open to meeting other investors and to exchanging ideas. 

In exchange, he gave her a small rent discount and even helped her relocate some of the larger items.