Hey @Nestor HernandezI actually thinking on starting a meetup in the Covina area since there are not a lot of meetups on this side.

Only because you have to buy a rather large piece of land to put a really small house on.

The completed form should be submitted to the IRS promptly, and before the actual closing date on the sale.

So there are a few ways to look at this, the 1st question is are you sure your renovation’s will double the property value, most renovations on primary residences, your lucky to get 60-70% of the dollar cost back out upon sale, so really nail down your comps, than you have basically a math problem if your rate on your primary goes up how long if ever before that extra payment is more than 400k in taxes, that’s just a simple calculation to help you decide, but I suspect you actually have a different question here, from a purely financial perspective my guess is the best option is to do anything to avoid that tax hit, but one of the reasons to make money is to spend it on things that you enjoy, based on your overall financial picture and a subjective view of how much enjoyment you will get out of a renovated home, you should decide if you want to roll your profit into another deal or “cash-out” your winnings, I love cars and I’m willing to spend more than is fiscally smart on them because they bring me joy, there is nothing wrong with that, but i don’t think it’s a fiscally smart choice, without knowing your exact property id imagine a renovation would fall into that category, so that’s the terms I would use to decide.

There are so many things that can muck that up.Current tenants could be running late and not actually be out that day.They may not leave it rent ready.

They have most to do with the developer and the fact that you have to advance a significant amount of money against just a piece of paper without any guarantee that you’ll get either your property or your money back.There are actually two distinct risks here.

I doubt getting a PO box is actually worth it at this stage.

I love the Tahoe area and I had actually been playing around looking at cabins, 2nd homes.

This deal structure could actually be the future of real estate.

In my state (Washington, that is actually illegal).