Add 20% to give you some comfortable room.Comparable Sales - What are alike homes going for?

He probably would have gone for it because he says he paid almost 6 figures in taxes on it. 

A 1031 exchange, also known as a like-kind exchange, allows taxpayers to defer capital gains taxes on the sale of certain types of property if they reinvest the proceeds into a similar type of property.

You need decent credit and some skin in the game. (15%-20% down + pay for closing costs)Typically when investors call me i will go over the numbers with them right on the phone and verify the deal fits our box / give pricing, then I'll take the time to do some comparable sale research to verify if your estimated ARV is within reason. 

I think the sale triggers a change from passive to active and it can be used to either lower basis or offset capital gains/depreciation recapture and if any is left your ordinary income.  

Explore seller financing, find for sale by owner houses, etc Thank You!

Yay, I'm a lawyer so I figured. 

I am trying to figure out how much of the property value can be used for bonus depreciation. 

Also, I totally get realtors work for free until a sale, but the way this guy is pushing just makes me wanna gravitate away.

However, from personal experience I would reach out to the HUD section 8 department to give them a heads up about the sale of the property. they will send you a packet to fill out but can't be completed until the new tenant has signed the lease or the current one is transferred into your name.