This means you've doubled your initial equity.Once these two events occur, the sale of the property should double what you had before the sale. 

And during the stretch of the renovation, there will be times when firings or quitting will occur.

Don't kid yourself that they are keeping the rest of the house in pristine condition and no more damage will occur before lease expiration.Going forward, discuss with your property managers concerning their screening and follow-up practices.  

And new construction occurs further and further from downtown, which is much less short-term rental friendly.In Tulum, there is no 5th Avenue and there aren't any condos or villas close to the beach.

Keep in mind, the transactional costs of selling a property in Philadelphia with the high transfer taxes and brokerage fees (althoug these are expected to be reduced in light of the landmark NAR settlement that occurred yesterday), adds additional transactional costs, especially in instances where the home was purchased as recently as last year as is the case with your home.

If so then I'd be surprised if the same scenario couldn't occur in OH.

And why is the date the 'damages' occurred so long ago?

The auction usually occurs 45 days or so following the Final Judgment, which will also be recorded, and shows a sale date.  

My primary approach is to screen and select those tenants that can and do pay, take care of the property and pay for damage that might occur.

Hi All,As I am reading and listening to podcasts and soaking in info for my first rookie deal, I have been learning the basics on the 1031 transfer concept that can come into play down the road.The question that occurred to me (apologies if it is obvious) is about state lines.