If you are ever in Pittsburgh you owe me a beer. ;-)

Complicating this issue is the need to do a 10-31 due to stepped up value/capital gains tax on half of the land.  

We are looking to work with a collections company to recover owed money from them.

Hi,I am budgeting for the basics for my NOI (and taxes, insurance too):1.

The requirement to defer all tax is simply to purchase at least as much as your net sale (in your case 50% of the net sale of the entire property). 

In your situation, that could mean significant differences for eventual income taxes.

Sometimes it’s the hard money lender sometimes it could be someone elsePlease also note most hard money lenders also can seek a deficiency judgment which is the balance owed on the loan after it is sold at saleIf you are a borrower you can also work out a deed in lieu which is when you give it to them without going through this processWe recently received $200M in these types of defaulted loans to bid on, so we are starting to see and uptick in defaults.Memphis area had over 50 on the list.

What would be the best way to do this for tax purposes, liability, and breaks? 

Rental property owners, did you know you can deduct expenses like mortgage interest, property tax, operating expenses, depreciation, and repairs?

Tax BenefitsWhen buying in low cost areas, it can be difficult to achieve FIRE without high volume of units.