If you have other partnerships or LLCs that have passive income and generate capital gains, then you can group the capital gains as passive and still keep their character as capital for tax rates purposes, but be able to offset other passive losses.

All you can do is be a decent & attentive landlord, regardless of how much the property is worth.

Knowing what I did not get to but which requires attention is a big step forward.Thanks!

I would also suggest getting out to some of the local REI clubs to network and gain insight into the local markets from people actually investing and making it happen.

You can read until your eyes go blurry and still not gain a fraction of the knowledge a mortgage lender who is an expert in investment property financing has or especially that of your real estate agent (of course specializing in investment property).

Debt has nothing to do with GAIN, on a property.

It also would not make a lot of sense for the bank to have a lien on its own property.All the junior liens were released at the auction.If the IRS had a lien they have the right to come in after the fact and pay the senior liens off to gain control of the property.

Now you have a total of2 open savings account, 1 credit card reporting as unsecured, and 3 CDsLegally and Technically, I cant quote how many points this will give you, but those people that I have that have tried this method gain a minimum of 100 points in 90 days on the scores, that's if your paying all of your other bills on time and nothing else negative pops up.

I am assuming that you want to defer 100% of your depreciation recapture and capital gain income tax liabilities.

If you like remodeling then a remodeling project would be top of the list.As you gain experience you can expand out from your center.