Unless you like to run up hill in the heat, chalk it up as business expense on taxes this year and move on to bigger and better.

You also have DSCR that "Does Not" use income - No income, No tax returns and just uses rents to qualify for purchase or cash out refinances.

Elda,You can use the land to build a home the land can be used as 'Equity" in the deal. 

@David Trujillo your father, like all Americans, has the ability to avoid up to $250K in capital gains taxes on the sale of his home using the 121 exclusion. 

We're seeing lots of growth here in terms of population, job market, and major companies building and developing here like Intel, Google, Meta, Amazon, etc.

My educational background includes a Bachelor of Business Administration (BBA) in finance, a commercial real estate certificate, and a minor in building construction and project management, with a focus on energy-efficient housing.

Hey I do fix and flips down here and build new construction.

My tax specialist is telling me I owe about $16k in capital gains tax because I had converted the house for commercial use.

@Weston Young If you need a fire escape please make sure you can find a trusted source to build this.

I've lived in the PNW for 25 years, but I'm hoping to start building a rental portfolio in my hometown of Lexington, KY.