Here is a meetup in the OCOC Real Estate Investor Networking - Tax Tricks Every Investor Should Know (biggerpockets.com)Good Investing...

If you cash out equity in a property, you are "borrowing" that money from the lender.

@Bob Asad since you've lived in it for the two years you could potentially qualify for the 121 exclusion, giving you $250,000 of the gain tax free ($500K if married) like @Jeremy Ellis said. 

I'd also recommend dumping the garages there's almost a total loss on that unless you are putting units above them on a dense infill lot for additional units it's not worth the cost of construction. build cost is pretty high for your market for three story suburban walk ups. we could never build at that price and make any money. suburban sells for 160k a door in our market with land. get on yardi make sure you Arne't going to lose money on it.

We are looking for a flexible option to access a pool of money that we can draw on to help with infill of the mobile home parks we own.

Just curious, Clint....is that enough of a legal paper trail to satisfy your accountant and/or the tax man if/when necessary? 

Since the remaining tenants have still been paying, I'm not sure that I can treat the MIA tenant as absent.Let's say the remaining tenants decide to move out (probably because they will eventually have trouble paying) and I make the refund check payable to all the tenants per the rental agreement (and to protect myself against claims from the MIA tenant), but they can't cash it because they can't reach this third roommate.Any recommendations on what to do with the money or what course of action to take?

I didn't owe anything, but I had sold my car to someone who racked up several thousand in parking fines and then promptly disappeared so they tried to flip the charges back on me as I was the only one left with money to collect.I called an attorney who sent them a cease and desist letter along with a warning that they would be liable for substantial damages if they ever contacted me again (and we would sue if they did).

When the pandemic hit and the visiting scholars had to back out of their leases, I slashed the rents and advertised on Furnished Finder but my units are not particularly conveniently located near hospitals and the area hotels were offering to house visiting nurses for tax write offs.

Sometimes you can talk directly to the owners.Use the Internet - Websites can show you houses that are being sold because the owners couldn't pay their bills or are in other kinds of trouble.Check Public Records - Look at official papers to see if a property owner is behind on taxes or other bills, which could mean they need to sell fast.Study the Market - Learn about how much houses in that area usually sell for and how much you could sell it for after you fix it up.Be Careful - Make sure you investigate the property fully to see if there are any legal problems or money owed on it.By using these steps together, you can find properties that might be a good investment because they need work or are being sold at a lower price than usual.Kind regards,