Hey BP Community,We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?

Hey BP Community,We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?

I know that the equity is the most important factor, but if the ROI is great, and the purpose of the Sub 2 is a long term buy and hold strategy shouldn't that make the formula more flexible, since the equity would build faster with a higher ROI?  

Taxes are the main reason I've not crossed over into SC.

High asking price, poor quality photos, and inability to access the property for showings are oftentimes the main reason why a listing expires.Best of luck to you on this deal and future deals!

The main one is the second Monday of the month and there are other sub meetups that I am working into my routine. 

My contact at Zillow mentioned this a mainly a play to try to get Seller leads to zillow agents. 97%+ of the sellers that click the button to sell their home ended up not wanting to go through with the zillow instant offer....they then know that the owner wants to sell and send that lead to an advertiser to try to take the listing....

Are you using it for personal purposes also?

I know there was a big rush to buy warehouse space.. not sure if you can make a profit selling it at 400 a lb.my thought was once it became more main stream the bigger players jump in and it goes all the way down to the price of tobacco.. why not ?

What are the main things appraisers look for when determining the value of a house?