My question is if I chose to sell the property today, will I be past the 1-year mark to be considered a long-term capital gain or is it based on when the property was put in "service" as my Tax form 4562 calls it aka rented out?

Current living in Magnolia, TX due to being flooded out during hurricane Harvey - my wife and I have 2 children, and are hoping to build a business that will allow us to spend more time with our kids via passive income.

It could be argued that an early stage note is preferable if you are looking for passive income because more of your capital remains invested longer, and it will therefor be a longer period of time before you will need to go find a new investment.With regard to accounting for the "kicker", essentially you are tracking a thing called "Discount Earned", which is the amount of the principal returned with each payment that is not your invested capital. 

I also had a passive loss for the rental property in 2017.

You realize when you get the industry job, you get taxed so much it makes you realize you cant save money to wealth, it needs to be passive. 

It shows I gain $16,500 in my 401k at the cost of $8569 to the tax man.

Hey BP Community,We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?

Hey BP Community,We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?

"if I could show you how to turn the property into a passive, stress-free money maker, would you want to know?"

Is it owning part of a real estate syndication earning a passive return on your money while an experienced operator handles all the day to day operations?