I keep hearing about this dip but instead of it scaring me, how could I make the best of it?

I have gained substantial equity but don't want to pay capital gains and have been in the home for a short time (about a year).

Another plus is after 10 years no capital gains if sold. i I know the question are very broad and hard to answer but just looking for simple answers before i have to go out and possibly spend money to get them answeredIf anyone has been through this any help and advice on the best way to get started would be greatly appreciated!

This would make his income capital gains and depreciation recapture rather than a mix of cap gains and earned income.What are the tax implications if purchase price is, say, $500k, and at time of death principal balance is $400k and he bequeaths the property (worth $600k) to me?

Hi @Earl Gaines and welcome to BiggerPockets!

Hi All - apologies if this question has been answerd in past, but trying to understand if selling a single family home (both side attached townhouse) and buying a commerical multifamily unit (more than 5 unit) - you can use 1031 exchange and not pay any tax on your capital gain of sold single family (townhouse)? 

Plus all of the paydown of the loan, and tax benefits. 

And... as an added benefit clearly identifies whom we rent to if there are multiple qualified applicants.

I need some of your inputs to determine which offer below would give me more profit or benefits from tax perspective. 1) First offer: $400K, which was what the listing price is for my property, with no closing help.2) Second offer: $412K but with $12K seller credit for closing help.

If you sell within a year you may have short term capital gains with the IRS (ask your CPA) What if the market drops before you finish the rehab?