For this purpose, the adjusted basis for determining loss shall be the lesser of either of the following amounts, adjusted as prescribed in § 1.1011-1 for the period subsequent to the conversion of the property to income-producing purposes:(i) The fair market value of the property at the time of conversion, or(ii) The adjusted basis for loss, at the time of conversion, determined under § 1.1011-1 but without reference to the fair market value.

Well this has lead from one thing to another delaying our payments several weeks now.

Any suggestions or leads would be great.

I just closed on a SFH in our market (Cuyahoga Falls, OH) from the MOST random lead...my husband's hair stylist.

I've come across several property leads where the property is distressed but the seller is asking more than the property is worth.

You just need a partner who is of legal age or a real investor who will reliably buy your leads (not a random list of 600 people who may or may not be willing to close a deal with you).

Real Estate is a rabbit hole and can lead to so many different opportunities. 

What can be done with these types of leads: highly motivated seller with a low-equity position?  

I think there's pros and cons to both, but to be clear in other scenario I want to lead or be actively involved in finding and managing the deal so I can begin to build up that muscle.

Not sure how I missed that in the walk through but I quickly came up with a plan to turn the stairs leading up to the landing and push them back which solved this problem.