It is important to remember that if you buy a single family home that you will live in for a while, consider living in it for 2 years before you sell because the IRS will allow you to exclude up to $250,000 of capital gain on your property from being taxed ($500,000 for married couples).

A lot of that knowledge is going to come from the real world experiences I gain with the existing property over the course of the next year.

Thanks for the insight Brie!

Hello, looking to gain some market information on section 8 housing in this city.

Plus it was able to give me unique insight into living in a small space for when I buy more properties and help my clients do the same. 

& @Glen Wiley thank you for taking the time to comment, I really appreciate your insight!

Looking for some insight if I should wait to purchase in the hopes of more multifamily properties becoming available in the future, if I should make an extremely low ball offer on what's currently listed.

Note all investments, including real estate, carry the risk of loss in addition to possibility of gain. 

While the $135K note qualifies for section 453 installment sale treatment with the gain spread out during the payment period. 1) Is my understanding of this transaction correct?

Thanks Roger for your insight!