Charge the tenants a higher rent rate and include utilities with their rent.

Also, from what I read in Bloomberg, midterm rentals near major hospitals can sometime command a decent premium.. especially if they include some nice furnishings.Little Tweaks Count: Even minor upgrades, like new door locks or a fresh coat of paint, can help you justify a stronger rent.Driving for Dollars & Networking..

This option minimizes taxes while allowing more flexibility to reinvest without 1031 restrictions.Option C: Sell Now Without the ExclusionSelling immediately means paying capital gains tax on the entire gain, including depreciation recapture, making this the least tax-efficient option.Additional Considerations:HELOC or Cash-Out Refi: If you want to keep the rental while accessing equity for your retirement home, consider a HELOC or cash-out refinance instead of selling.Estate Planning: If you hold the property until passing it to heirs, they receive a step-up in basis, eliminating capital gains taxes entirely.For tax efficiency, staying two more years allows you to partially exclude capital gains, while a 1031 exchange defers taxes if you plan to continue investing in rental properties.This post does not create a CPA-Client relationship.

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).

Am not sure if you offer any pods or coffee included but would suggest buying the large 80-100 count boxes and having a small decorative basket/display with about 10 starter complimentary pods on each stay.

And do you think you're the only game in town?

Your 'cost' should include everything, from land purchase, soft costs, holding costs, and hard costs.

And then your REI income matches your W2 income the first time etcTo your question: equity is the name of the game.

Does the contract include a monetary damages provision?

I live in Charlotte and would prefer a multi-family investment property that is within a 3-4 hour drive so I'm considering areas that include: Charlotte, Raleigh / Research Triangle, Charleston, and Atlanta.