You really don’t want to sell in under a month or you’re facing regular income tax plus self-employment tax instead of capital gains tax or zero tax if you move in. 

I have advised many others through the process - there's some tax consequences you should be aware of.

My concern revolves around potential increases in taxes or fees for owning an investment property in NY while residing in FL.

HJTA is sponsoring an effort to fix California’s Prop 19 by restoring the ability to transfer property to children upon the parent's death WITHOUT reassessment and WITHOUT the often HUGE increase in property tax.

   $250K tax-free. 

Quote from @Dante Ritchey: Hello everyone,My brother and I got our first multifamily back in August and are starting to think about good old taxes.

Our recommendation to most of our clients is that until we have additional information, if you are going to be able to claim bonus depreciation, just extend that tax return and wait for it to be finalized. 

The issue you'll have is that if you want to defer all tax you must purchase at least as much as your net sale. 

My bookkeeping is done in-house and then sent to my CPA and Tax Advisor who are in Nevada (I am in NC). 

agents might be able to send you pocket listings, and wholesalers can put you on their buyers lists. you can also post in local facebook groups looking to see if anyone knows of any single-family homes that need a lot of love that the owner might want to see an offer on. you could also drive for dollars & target rundown-looking homes, and cold-call or cold-text the owners, or send mailers to them. note that it often takes multiple contacts to get a result with cold outreach. you can also go buy at tax auctions at the courthouse. you can buy from auction sites. you can look on facebook marketplace and craigslist. hope this helps!