You can not make a living wage have $100+ cell phone, $100+ cable, $700 to $1000 car payments, Housing, Vacations and still save money for investment, they will not take short term Pain for long term gain.

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This is a bit of an Asset protection and Tax consequence question.If I buy a property for 100k (100k is my basis) , 5 years later it's worth 400k, that means I have a 300k capital gain.1 - If I sell the property after 5 years, do I pay long term capital gains tax (15%)?

Even for 1 year to gain equity 

Equity is no more than paper gain until you pull it out through a refinance or sell.Another good target for acquiring properties with equity is through unsophisticated sellers...Frank

I stood to gain nothing.

Looking to gain a better understanding of real estate markets in these cities, and strategize for purchasing rental investment single or multifamily properties, under $300K. 

Good luck and remember...nothing ventured, nothing gained. 

If they only take the second year into account then maybe it would be best to claim a loss the first year and a gain in the second.

While you can't take any passive losses now due to income, you will accrue them, carry them forward, and be able to either use them to counter future gains down the road or use them to lower your capital gains when you sell.