Not fluffy income used for depreciation or some perceived tax benefit. real solid figures you can take to to bank. 

Hi J   I have done hundreds of houses so the experience isnt something im looking to gain.

Hi all,Was hoping to get perspectives / hear stories on how others approached the possibility of selling RE assets and using the proceeds to paydown debt on other properties.Here is what I see as potential +’s and -‘s:+ increase cash flow by removing mortgages (so more passive income)+ opportunity to sell underperforming assets- less assets under management (so less potential equity appreciation)- taxable gains (will not redeploy into RE as my sense is we are near the top of the market)- 30 year fixed mortgages in place at low 4-handle rates (based on simple bond math, the value of my liability is shrinking on a relative basis as rates rise)Other facts relevant to my situation:* RE is but just one asset in my portfolio (and I’m fine with that); cash flow and appreciation are great, but I’m looking at the asset class as more of a long term hedge against inflation * not looking to leave my day job and / or replace W-2 income entirely with passive income * don’t need the cash flows from RE; again, I see the asset as a levered inflation-hedging play

So, you will benefit from deducting depreciation for 3 years, but then you will have to return this temporary benefit when you sell - essentially a wash.And, as @Jon Holdman said, the deadline is firm, cannot miss it even by one day.And - very important - the rule assumes you do NOT move back.

As he said, I think its more of a guest benefit. 

Thanks alot gain!

I will be slapped with huge capital gains.....I DO NOT WANT TO DO A 1031 Exchange but want to either;1)  Put it in some sort of education fund for my 3 kids?

Just looking to get my foot in the door and gain as much valuable information.

I just hope it works out to our benefit financially!

( if there is a gain you now have to pay more taxes too)