I am interested in the topic when applied to smart contracts.

Future Tax Implications: When the property or syndication sells, depreciation recapture applies, and any appreciation is taxed as capital gains.

However, even in an equal exchange, recapture tax might apply.

Well I knew I could subdivide or I knew the density bonus's applied etc etc.

But still, within a few weeks you should have someone applying who is qualified from my experience - which is in Florida, not New York… but all things being equal demand works similarly.If marketed correctly now, it tends to point to price sensitivity (too expensive) relative to other similar offerings,  or some other detractor as to location or convenience.   

And then I applied some leverage knowing that if they did not want to move forward that I would find another interested Buyer who was clearly ok without having the Certificate and knowing it was always used as a 2 family. 

I do not want to fully apply for anything at this beginning phase since I have more research to do, so hoping I can get some help here. 

So if you've got some market rate tenants applying and Section 8 tenants applying pick the one you like the most.

Capital gains tax applies when you sell an asset for more than its adjusted basis, not when you borrow against it.

Been reading a lot about how student housing caps are in the 5's now, but curious if that only applies to the bigger buildings/portfolios, or if a lender will abide by those rates on the smaller stuff?