Even if you are fully retired, it probably wouldn't be a bad thing to participate a little bit to keep your mind moving.If I were in your position, I would be focusing more on cash flow rather than appreciation.

I've bought two off market deals thus far but we paid an agent (basically retired) $400 to push paperwork at the closing.

Just like most we are looking for a more secure retirement and wanted to give real estate a try, we stopped running the ruck for almost 8 months now in order to focus only on real estate which means our tax return for 2021 isn’t going to be anything great but 2020 is much better.

@Ryan Santelises You should reach out to rent to retirement.

Retired LEO now living in TN.I've flipped a few houses through the years and have a couple of new opportunities on the burner. 

I retired as a 21-year JTAC in 2008.The forums are full of helpful people and you've already taken a big step by introducing yourself.

They will be applied against whatever income you have that year, including W2 income, retirement distributions, investment income and yes, gains from the sale of this property.The second event is the gain of $200k, of which $150k is taxed under depreciation recapture rules, and the other $50k taxed under long-term capital gains rules.

He sold his business, sold two of the homes for barely what he paid (one of which put him on a "hit list" because of racism), put his parents into a retirement home, and went to work for his competition, for which he was paid well, but not that well.

It's a huge investment compared to my SFR portfolio but at a 7% cap, it shows great returns down the road and would pretty much set us up for life after retirement. 

But, for example if retirement is near for you, I wouldn't want to --- just my personal strategy...Good luck.