Be mindful of the harsh winters and short construction seasons, which can affect project timing.

Let's break it down with precision:The "Pain" (At First Glance):Your $2.8M sale splits out as:Building (§1250): $2.3MPersonal Property (§1245): $500KOriginal Basis Allocation:Building: $1.6M (depreciated over 27.5 years)Personal Property: $400K (fully depreciated)Building Depreciation:Annual: $1.6M ÷ 27.5 = $58,182Total over 10 years: $581,820Gain Breakdown:Building (§1250):Sale Price: $2,300,000Original Basis: $1,600,000Less Depreciation: ($581,820)Adjusted Basis: $1,018,180Total Gain: $1,281,820Unrecaptured §1250: $581,820 (25% max rate)Capital Gain: $700,000 (20% max rate)Personal Property (§1245):Sale Price: $500,000Adjusted Basis: $0Ordinary Income: $500,000The Strategic Play:Remember those suspended passive losses you couldn't use?

My agent was a very nice older lady, but no idea about investing, it all worked out and once the first rent checks started coming in started gaining some confidence.

All,I'm trying to walk through this thread and I am apparently missing something ... wouldn't be the first time nor likely the last.   

I have decided first loss, best loss.

I am looking at 1031 possibly or just fixed refi/or use my heloc for the time being on a value add for a building 10-40 units (market dependent on price). 

*Curb Appeal – You never get a second chance to make a first impression.

Quote from @Enrique Toledo: I came across a really good seller financing deal and I would like to purchase it as my first deal but I don’t have enough money for the down payment.can I use a lender of some sort to give me money for the down payment?

I wish I could pull something off like that... basically, its a fee to make sure you don't waste the lenders/broker's time.

Any advice you would give to someone first starting out?