We recently cashed out of a Brooklyn condo, and the equity would go way farther as a couple of down payments in better value markets.  

My recollection is that if it is your primary home for 2 out of the last 5 years there is no capital gains tax on the increase in value up to a $250K profit for a single person or $500K for a married couple. 

I can recommend several but they are a couple weeks out.

I'm sure you've heard already but i wanted to share that the easiest way to track down a mentor is by attending the monthly meetings that are in your area.

A couple of the developers have been Assisted Living Facilities.He is wanting to see if there is some way to lease his parents land to one of these developers, so his parents can either retire to one of the Facilities, or provide them with a monthly income so they can live in another one.  

A mixed use property my dad bought in 1963 for $25K sold for $1.1 million a couple of years ago, only to be torn down and condos built, 1 BR's sold for $600K each, rents for a few thousand/month.

Feels like a good deal (nice lower income neighborhood, bike paths, parks, 10 minutes from personal residence ) but the AC and roof may not have too much life left.Based on my analysis, I think the FMV for a 2/1 like this is closer to 35k.Inspection in a couple days - planning on asking for $3-5k back at closing to a) mitigate risk of roof/hvac replacement and b) bring purchase price closer to FMV.Is a deal like this worth walking away from if I don't get a concession post-inspection?

Would love to attend if I can!

I am currently in the process of attending my first tax lien auction in the Missouri area (figured with this amount of money that this would be the cheapest and safest route) and would like to hear any suggestions that one may have.

I am brand new to real estate (I bought and rehabbed my own home a couple years ago and fell in love!)