We spent a little less than 2 months renovating the property: Brand new roof, Remodeled all of the bathrooms, Added a boat Pier, Repaved the driveway, Striped a basketball court, Painted the entire inter How did you finance this deal?

It has both the main house, guest house, and a basketball court.

I'm guessing the insurance proceeds there are not taxable, but the land sale is.

If you intend to use the proceeds of the sale of the current rental property to purchase another property(s) I would suggest you look into it.

Would selling your duplex and using the proceeds on a downsized single level get you a much smaller mortgage?

I have a ton of pre-foreclosures in my area, but upon screening the court files, it appears the debt outstanding is right around the ARV or market value of some of these properties.

Refinance into a conventional mortgage and use the proceeds to pay off the HELOC.2.

-Are my proceeds subject to capital gains tax?

-Are my proceeds subject to capital gains tax?

Purchase price: $187,000 Cash invested: $60,000 This was a 1031 which we purchased with proceeds from our Jasper, TN home.