Otherwise, if you have more specific questions please bring them to the group's attention.

The guys who are truely successful in this business are the ones who are flexible enough to adjust to whatever situation is needed and the ones who can make constant small gains over and over again.brit2nyc, the bottomline is this.

Once an investor has identified his or her like-kind replacement properties, they have to comply with the following three (3) value rules for the actual acquisition values in order to defer 100% of his or her depreciation recapture and capital gain taxes:1) Trade equal or up in value based on the net sales/purchase price; and,2) Reinvest 100% of the net equity or cash proceeds that result from closing on the sale property; and,3) Replace the mortgage.

Good news, due to the real estate boom, I could probably realize about $120k gain after closing costs if I sold at a price of comparible properties.Question: I desperately want to sell, but would like to avoid the capital gains hit.

I guess my major goal is to gain capital.

Think about a 1031 exchange.A 1031 Exchange is a transaction under United States law which specifies that if an asset (usually some form of real estate such as land or a building) is sold and the proceeds of the sale are then reinvested in an asset of a similar kind (like kind asset), then no capital gain or loss is recognized, allowing the deferment of capital gains taxes that would otherwise have been due on the first sale.

With the boot, will we save on capital gains by being an LLC, incorporated or just as a married couple.

Hopefully I will gain a whole new perspective and insight as I enter my first year as a R.E agent, working in this ever changing market/industry.

I made the mistake on my first rehab of only looking at the capital gains.

see what they've done and how much it has cost.i'm sure you're looking because you see some value in it - improvements of the structure and subsequent revenue increases, but with those older buildings you really have to pay attention to the finer points that could land you with big expenses that don't necessarily improve your revenues - i.e. asbestos removal.