Lots of questions......and some internal guilt for thinking about opportunities when so many are facing such epic devastation....

The fringes of the flooding area will be more salvageable than closer to the worst of the flooding.There may very well be new legislation enacted locally to protect against frauds and rip-offs.

I then use the IRR formula to calculate the internal rate of return on the $1000 upfront investment.  

There might be decent deals at bank debt if you have your own team and internalize renovation costs.  

Also, a lot of national and international retail tenants have similar provisions.

It hasn't been announced even internally yet.

Attention all Seattle short term/ airbnb rental owners! The Seattle city council is having a special meeting tomorrow, Friday September 15th, at 9 am to discuss and possibly vote on the following:- AN ORDINANCE relati...

The downpayment will be determined by a combination of the following:0) Legal and regulatory requirements;1) The strength of the business - how much free cash-flow does it generate and the strength of the applicant(s) (financially stable, experience, professional management, etc);2) Insurance requirements if CMHC mortgage insurance will be sought; and3) The lender's internal rules & guidelines;Are these rooming houses?  

A couple small banks that I use typically do an "internal evaluation" instead of an appraisal on properties under $250K - this will help you save some costs. 

Hi Dong,Since you mentioned "profit"  and  you further brought up that depreciation is super high since you were renting it.I will assume the original purchase price was $380,000 and you were depreciating it the past 7 years and now your taxable gain is $116,727 calculated as follows.400,000 - 380,000 - 96,727(depreciation at 7 years assumed brought on jan 1 and residential building) = 116,727.Your agent is referring to section 1231 of the Internal revenue Code where the IRS allows you to DEFER gain on an investment property if you sell and acquire an investment property.The code calls for very strict rules on when you need to choose your new property once your property is sold.