Is it capital gains, ordinary income or both?  

The condo is amazing with a killer view of downtown San Diego and will continue to gain equity IMHO, plus he's positive cashflow on the rental.

I've made big gains with these techniques, I hope they help you as well.

I have a bit of experience in real estate and I am looking forward to building my portfolio and gaining knowledge.

He is retired and is also worried about paying capital gains.

Essentially, after writing off passive losses, I need to purchase approx $400K worth of property ($100K in cash, $300K in financing) in order to avoid capital gains on the sale of my current investment property. 

Interested in applying for a rehab loan based, hopefully based off the building and its potential gained equity more then it is myself.

That could be construed as an artificial attempt to get at your gain.

It used to be very easy to set up a simple land bank to "sell" the developed asset into in order to either enjoy cap gains or do a 1031.  

@Jared Garfield I hope you write more about what insights you are gaining from the IMN conference, especially about the direction they (conference attenders and presenters) believe the economy is headed in the next 12-18 months towards real estate, single family and multi family in particular.