No pets, no smoking, no drugs, kinda stuff.

Please note that the new Administration could take away the bonus depreciation provisions from the 2017 tax law sooner than 2024+, so don't invest for this reason only.

No You do not need a degree I have a Masters in Business Administration and use very little of it in real estate.

A drug house will have to be taken down to the studs and it will cost you 60k to get it ready for the next tenant.BTW if you had stuck to your screening process you could have uncovered their flaws, background check, credit check, social media, prior LL, and employment verification.

Martin Shkreli, the pharma executive legally raised the price of a drug 5000% to mass outrage (yes, he was sent to prison but the conviction was for fraud).

I cant prove anything but suspect some illegal drug activity might be going on inside.

I sometimes wonder if I should take up drinking, get sober, then follow his example - lol.Best part is, drug addiction is a protected class and so the zoning for boarding houses does not apply. 

As others have brought up, you can 1031 it into something else... but what if the current administration does away with 1031s?

You just need to file a final Form 1065 tax return and make the administrative change with the state indicating you only have one member, and get a new EIN.

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