One strategy would be to create a metrix to identify those properties of yours that would yield the greatest amount of cash but have the least gain and that you've owned for the shortest time (but still over a year so the gain is capital not ordinary income) so that your depreciation recapture is minimized.

More young professionals are moving to the downtown area and PLENTY of projects are on the booksFor example: http://www.cleveland.com/business/index.ssf/2015/1...Cleveland is a market where there are plenty of gains to be made of course buy in the right area thou

Gain good will whenever you can.]

If they do exercise their option, I don’t mind rolling the capital gain into another house or apartment building on a 1031 Exchange.

With the IRS approved Solo 401(k) Plan, roll over your existing IRA or 401(k) plan funds tax-free into a new Solo 401(k) Plan and use those funds to make tax-deferred investments, such as real estate, while also gaining the ability to borrow up to $50,000 as well as make annual plan contributions up to $59,000 – almost 10 times the amount of an IRA."

it is exactly what I would like to do while I gain the experience and the right capital to go full time investor.

ThanksRizAdvice would be to find someone smarter/more experienced than you and make sure they have something to gain out of the situation.

The property is rock solid, but not a lot of room to gain intrinsic value thru rehab, but an opportunity to increase under market rents.

Hi I'm Shane from Brooklyn, New York I've join to gain knowledge about the real estate market.

One thing not mentioned yet: U factor and solar heat gain coefficient.Make sure you know what local code requires.