Curious as to opinions on this situation, there may not be a 'right' answer but sometimes others' thoughts help open up new ways of thinking.

My tenant called me up 10/09 to announce she is moving out on 11/8 and giving 30 days notice.I had a yearlong lease in place, and when it was up for renewal, I reached out by text “were you planning to renew your lease”, and she texted back “we love it here and want to renew the lease”.

I want to use her equity as a gift for the down payment to avoid capital gain taxes.

@Ali NicholsHi Ali,My thoughts were to start with a SF and go through the process of the BRRRR and then move on to small multifamily as that is what I want to focus on.

Background: I offered on a condo (still a newbie to investing myself, although this would make my third STR and second in one market), and the same day a second offer came in, higher.

Would love to meetup, network, and have a meaningful discussion!

As I dive into all the different paths I can take (single family vs multi-family, short term vs long term, cash flow vs appreciation, local vs out of state, etc..) my mind is scrambling and I've ended up doing nothing at all.I'm looking to join a mastermind that meets consistently and can really motivate one another to take our businesses to the next level. 

But I am open to it if I can use the security deposit to replace the carpet (not sure to what extent it is legal).I was thinking of getting landlord rental protection from Zillow to cover pet costs but my premium will probably shoot up since the place is carpeted.Would love your thoughts on this dilemma!

If you read my previous post, I emphasized the importance of showing up for the right keywords.

Tax-wise, consult a CPA to handle the stepped-up basis and inheritance implications.