I live in Phx,az and recently friend of mine sold his bank (ex bank of america) literally as is and profiteed $300k  , he purchased it right out cash last year (I think) and it was in real bad shape in a shady part of town,  before him taking possession of the bank  homeless people where living inside it an using the bathroom anywhere in the building, he put maybe less than $5k in just cleaning it up and just a couple of days sold it.Basically the idea is to find super cheap homes in ****** conditions but the price is so cheap that you could still make profit by selling as is, investing as little as possible..

Owners/Operators have to identify new and innovative ways to offset these expenses just to survive.One of the most common solutions I keep hearing is bringing property management in-house (aka vertical integration).

Even if you try to sell in a few years with 4-5 years of abatement left, there won't be any appreciation. 

Or do I have to sell it?

If you have considered selling, I invite you to get in touch with us soon so we can discuss the possibility of a mutually-beneficial sale.Please call us at [our number] or email at [our email address].Sincerely,

If you're not currently listening to books educating yourself, I'd start today.A few I'd highly recommend...Buy, Rehab, Rent, Refinance, Repeat - The BRRRR Rental Property Investment Strategy Made SimpleFLIP - How to Find, Fix, and Sell Houses for ProfitThe Book on Flipping Houses How to Buy, Rehab, and Resell Residential PropertiesThis book is not currently available on Audible but a must readThe Book on Estimating Rehab Costs - J Scott

Hi BP, Looking into selling a rental property in NY and 1031'ing it into a property in the Raleigh area (where I currently live). 

Because of the location, this is permissible per county regulations, even though the residential neighbors are having a tough time with it.So, we have to move and convert our home into a STR (we cannot sell the property because it is 2 homes and an elderly family member lives in the other home and cannot move).  

This is after rent appreciation, as well as selling 5 doors and taking some great profits from market appreciation and paying off other properties to lower our debt - which significantly boosted our cash flow.   

I would sell while you can avoid the capital gains.