Even if you could it all you're doing is deferring taxes instead of eliminating them. 

I've been waiting for this property to come up for sale.

Purchase price: $55,000 Cash invested: $60,000 Sale price: $245,000 Property is on the market right now.

There are obviously a lot of nuances. 

Our city code requires a method of egress for 3rd Floor units.

Loss of income is another coverage that you will probably want to cover any period of time you can’t rent out the apartment due to a covered loss.

Best of luck to you.

Best of luck and welcome to BP!

It was my first time stepping through the motions of a property auction and it was still a great learning experience, despite missing a technical deadline and not being able to bid on any properties.I am now in the process of closing on a FSBO listed duplex that's a better deal in comparison to most of the properties that sold in the area during the auction, so it all worked out in the end.

Lots of MD, DC and VA members in the area.