They ended up losing a property worth around 1.5 million for back taxes of 25k.

Almost weekly I get calls from agents and investors asking if I will sell a MHP to them or try to get free tips, picking my brain like that sounds any better.Today, an agent texted me for the tenth time telling me that his buyer needed to place 1031 funds and was interested in one of my parks.

Market research, local expertise, networking, property management, financial planning, potential legal and tax ramifications, risk management, and long-term vision are important factors to take into account.

Does anyone have any helpful tips or advice as I go through the process?

Can I deduct expenses (utilities, mortgage interest, taxes, etc.) on a Schedule E for my 2023 taxes?

What are the tax ramifications of deciding not to rent a rental property and just leave it empty?

A reference for me to keep track and make the year end tax paperwork easier. 

@Nicole TuffarelliI am aware of a few groups that can usually utilize funds from an IRA to help purchase new homes at reduced leverage (usually capped at 70% LTV).It might be more beneficial from a tax-standpoint as well to do it that way instead of drawing it all out.

How bad are the capital gains taxes?

Starting next month when my renter moves in i will have only utilities and taxes as overhead at my new home in michigan.