At Bigger Pockets, you can reach out to other real estate investors while completing deals successfully and correctly.

Hi Darren,Diane and Michael are correct; under Section 121 of the Internal Revenue Code you (as a single individual) can exclude $250,000 of capital gains from your taxes if you have owned and resided in the house as your personal residence for 2 out of the 5 years prior to the date of sale. 

I tend to agree that the market is likely on the higher end, but we have already seen our first nice correction starting from July of last year to Jan '19.  

Our above gentleman are absolutely correct in what they’re saying, but nothing beats driving through and laying eyes on the neighborhood just in case it’s one of those hidden gems.

This can work out for you but your risk is in buying the correct property with good mechanicals and modest deferred maintenance. 

I know this is not a traditional method but it works for me because to collect that money up front would pay for my holding costs for 2 months regardless of wether or not they come up with the rest.  

Is this correct?

Can you guys share any unique method to offer the seller without insulting with low ball offer.

I need to make sure all the paperwork is filed and filled out in the correct places and in a timely manner.

I've personally used the BRRRR method by buying low enough, value add, and refinancing.