I already have a new CPA and I am working with a financial advisor for our unique situation.

The uniqueness of this transaction is in the fact that the property suffered a fire, and I collected insurance proceeds, but sold the house "as-is" after the fire, putting minimal money into the property from the insurance proceeds.Based on what I have read about taxes on rental homes, I'm nervous that I am going to be looking at a hefty tax bill.

@Erin M.This question had much to do with where one is in life, what they have accomplished already and what they have not.I have my own unique view of this story.I have my Masters DegreeI have owned beautiful homesI have traveled the worldI am paying for my kids to go to UniversityI grew up in Inglewood Ca in the 1980's in the height of gang and drug wars in Los Angeles at that time.  

The uniqueness of this transaction is in the fact that the property suffered a fire, and I collected insurance proceeds, but sold the house "as-is" after the fire, putting minimal money into the property from the insurance proceeds.Based on what I have read about taxes on the sale of rental homes, I'm nervous that I am going to be looking at a hefty tax bill.

I'll be speaking with the lender on Monday who is well versed and experienced in those unique types of renovation loans to get the full terms and conditions, I don't anticipate a ballon payment.

This one is unique for me in my 25 years of investing in real estate.

the nomad/move-into-new-personal-residence-yearly aspect was the unique thing that i was looking to find a basis of discussion on. 

We’ve even toyed with moving over there someday. 

Unique is value What was the outcome?

Especially since we have been mostly looking at conventional multi-family properties and we didn’t quite know what to think of this unique property!