Quote from @Brian Christinakis: Let's not forget the liability piece that STR insurance provides in MUCH higher liability limits for incidents ON your property but also incidents off your property while your guests are staying there (like using a bike).

Unfortunately, Covid decided to change my plans, and I made the decision to hold off, in hindsight it was a huge mistake and no one could have imagined that property values could have increased at such a high rate.

Single Family home ,Property value $600k ( rounding off for easier calculations) land value $50k .

I generally work with home owners looking for long term management, but I do work with a local broker with access to off-market deals, and he sees a lot of activity in the area.

But if I wait another 3 (1/2) months, I can pull out $280,000, because I can go off the appraised value then.

There should be a class action law suit again multifamily mindset that has ripped off so many people and tore their lives apart in a horrible way.

@Cole Starin sometimes it makes sense to sell the WORST property in your portfolio.Another option is why do a LOC on the duplex, when you could just do a $100k cashout refi to pay off all your debt AND keep the property?

Had a quick question.I purchased the property for $500K about 10 years agoI'm selling the property for $575K with the Fire DamageI received an insurance check of $380K for the fire damage.After Paying off the Mortgage + Escrow + Realtor Fee's, I'll be left with about $150K.My question is will I get taxed on this $150K?

Doesn't ring a bell right off the top of the head.

If you have large debt with a high interest rate, I would consider paying that off before getting started investing in real estate.