There are a lot of tax benefits not to do that or to wait until you're done with owner occupying all together.

It was intended as a fix and flip, and our original exit strategy was reached. we bought with hard money then did a refi to convential because repairs became drawn out and rented for some cf to by is time. we ended up selling for 405,000 and our loan balance was 235,000.

The term "disregarded entity" refers to the income tax reporting options for a single member LLC.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..

Let's make some money Archer!!!!!

Could we deduct most of the 100k from tax and potentially get profit from the sale?

This is because, as adults, we ALL have *some* familiarity with cars and money and we know how the business world works!

After living there 2 years, you can sell tax free on the gains. 

Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/ Another example of economic growth is the upcoming Ohio State University Wexner Medical Center Inpatient Hospital which is a 1.9million square foot hospital that will bring over 800 new beds and a thousand new jobs. https://abc6onyourside.com/news/local/new-osu-hospital-expected-to-transform-health-careHere are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0 https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus Check out The Complete Guide to the Columbus, Ohio Real Estate Market which goes through the Columbus, Ohio market in depth and will give you a better scope of where the highest levels of growth are taking place and where to look to invest.  

The listing price, along with prop taxes and interest, were making this property's PITI payment to be well over 3 grand.