It currently cash flows $700/month after taxes, HOA, insurance, etc.If I sold, taking into account the costs to sell, I could make between $390-$440k in profit. 

We really want to try to get our Real estate professional status for tax purposes.

Remember all your investment in repairs can go into your business costs for taxes. 

Getting the COC% to meet that pref has become increasingly difficult with interest rates, rising insurance and taxes.

You can sell both units to one buyer, but that buyer now has two properties, with separate tax bills, etc.  

Our syndication agenda revolves around acquiring discounted land, building single-family homes, and selling upon completion. what are the top 5 boxes you check when prospecting auctioned land at a tax deed sale?

Sellers in the City of Los Angeles now face an extra 4% transfer tax for any sale above $5 million and 5.5% for any sale above $10 million.

There is a number of threads about it in the tax forum. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

My accountant asks me to talk to them BEFORE I make major money decisions so that they can help me protect myself from taxes.