This means upon sale the only tax liability would be the capital gain.

How do I minimize capitol gains?  

@Clayton Swansen watched a very interesting podcast www.biggerpockets.com/show75that will have some very good insight on mobile home investing.

Good luck and if you need any more help or insight, let us know!!

Could someone who has participated in Jersey City property auctions provide some insight into the process and what it takes to succeed?  

@Thomas Wassmannyes Thomas I do have an interest in wholesale, and after i have a better understanding of certain processes in REI i will message you to gain more information.

Are plan is to flip until we have the gain additional capital to increase our buy and hold portfolio.

I've been reading a lot of great information and gaining inspiration to do more deals in Fix & flip and multifamily rental units.

I am in the "educational" phase and using this website to gain as much knowledge as I possibly can. 

This is just over the 3 year mark and I believe I'll have to pay full capital gains (appreciated over $80k from date of purchase).I'm assuming my best bet is to give him the boot and make sure I sell the property before 3.1.17.