Buying a new primary residence has nothing to do with the capital gains exclusion.It is when you go to sell the new house down the line you'll run into a problem.

@Makani Donaldson it all depends on your investment goals.If you buy a Class A rental, it'll usually have negative cashflow, which will be hopefully offset with appreciation and better tenants.If you buy a CLass C or D rental, it should have pretty good cashflow because you may not realize much in appreciation and you'll have a lot more problems finding good tenants.

I am assuming that it is vacant so showing it should not be a problem for you.

How does everyone feel about investing in Oklahoma? I would love to know!

I had a client who actually decided to pursue converting the house to a boarding house to avoid any problems in the future.

This seems counter-intuitive as I doubt you’ll ever find a really good PM company but the headaches of managing any kind of a problem remotely overshadows the ongoing concern that a PM company is inefficient and expensive (at least it does for us).

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.

However, you may be able to get the property at a discount, step in, and solve the problem.

I have been made aware of some issues, including problems related to IRA money movement and incomplete deals, which have contributed to the delay in issuing refunds.I want to assure you that your refund has been approved, and steps are being taken to expedite the process.

Hi BiggerPockets community,excited to connect with like-minded individuals who are passionate about real estate investing.