I'm 53, married with 2 kids less than 17 years old with debt only from purchases on credit cards and my home.

You owe two taxes:A. capital gain tax on $150k ($500k sale - $350k purchase)  PLUSB. depreciation recapture on $100k of depreciation taken.Now, let's assume that you messed up somewhere along the way, and you only took $70k worth of depreciation instead of $100k.

Quote from @Roger D Jones: Quote from @Fred Scott: @Roger D Jones:  Any insights on why the North Carolina purchase in Fund IV makes you nervous?

Purchase price: $100,000 Cash invested: $35,000 Sale price: $270,000 Hey BiggerPockets Community,I recently updated a multi-family property on a tight budget and significantly increased its value.

If this is your first real estate purchase I would stay away from auctions, there's too much risk involved especially with where price points are in your market.

I'm most interested in Single-Family or Multi-Family Homes with the intention of having Mid or Long-Term rentals (although I am not opposed to Short-Term either).

@Wade Wisner -  Most of the notes that we purchase we keep in our portfolio and borrow against them with private capital.

Is it normal to pay anything upfront besides a down payment on Private Money Lender financing deal
Does this look legitimate to you guys https://drive.google.com/file/d/1WXAqllCuZVMjkv6HjqLmv-gw3bmwPqr2/view?usp=driv...

Hey everyone, I’m trying to decide between purchasing a single-family home or a multi-family property for my first real estate investment in Detroit, and I’d love to get some advice. 

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.