no experience just means thet there is experience to gain, keep it up.

Michael & Andy & JohnThanks for the valuable insights.In order to buy far away from where you live i.e. in my case PA or deep down in South Jersey may be better bets.

I am looking foward to the knowledge I will gain from the Forum!

Once you convert your property to a primary residence you fall under Section 121 (the 121 exclusion), which excludes only capital gains and not depreciation recapture.

Depends on your area.....GREATLYMike stated that his part of ohio was -2.7%.My countywide gain was about 4% last year ,with some areas seeing a 10% gain in average sales prices!

So, any gains are tax free (Roth) or tax deferred (regular.)There are some downsides.You will have to find a custodian that allows it.

I have made huge gains since switching.ACS was not returning calls, was not disputing, they only sent disputes out 2 times in 6 months. and the first disputes where not even sent out until almost 45 days after i paid in full up front the day i signed the contract.

I buy bulk foreclosures and sell them to my investor in my investors club at .15 to .40 cents on the dollar.I do hard money lending and as well help people gain equity quicker!

I am currently taking real estate appraisal classes to gain knoweledge and some day to become an appraiser.

If your buying and fixing up correctly, we have seen our pool of money constantly increasing and gaining momentum.