Hi @Larry Pruitt - is the goal of your client to assume the loan + purchase the current owner out?

So leave the sensitive stuff for later (if ever—it’s not customary to provide that stuff in equity transactions and your debt folks are going to want current stuff or to run it themselves).Since you have experience, flaunt it.

I currently have two mid term rentals I have been renting out in Dallas for several years now, and find myself having issues with one of my renters. 

It's absolutely is possible to find a cash flow positive property out of state, even in the current market.

. , market values, estimate of mortgage balance and current status of property.....actually preforclosure/probate or old info?  

This home was behind my current 3 family home (I Live in ) it was the hoarders home in a great community and I could put parking on the lot - If you Live near the Jersey Shore you need many places to park How did you find this deal and how did you negotiate it?

There is a safe harbor for you…it’s just 110% of prior year since you’re over the $150,000 AGI.You can also base on 90% of current year’s taxes to avoid the underpayment of estimated tax penalty.Keep in mind you can use Form 2210 along with your return to show the IRS how much income you earned by quarter and make your estimated tax payments accordingly.

I'll use my current home city to show you the process. 1.

So the plan is keep and/or 1031 until I die, then have all gains and depreciation magically ripped away via the current tax laws.  

@Sonal Chopra what a great question, thank you for asking this to this community.Long-term goal would be the same goal my wife and I have today; Build, passive on going revenue streams that exceed our current and future expenses with the ultimate goal of giving away 80% of what we make to charities and causes we want to support.