If your intent was to hold the property for productive use in business for trade or for investment then you could do a 1031 and you could get capital gains treatment if the closing of the sale crossed over that 5/27 date.  

Now, I got my license, and I'm hoping to gain some traction in the industry to buy my first property.

Hello all,I am a student studying Industrial & Systems Engineering at the University of Oklahoma with one more year till graduation (woo!).

@Jose Guevarra I would see what kind of commercial RE he specializes in (strip malls, industrial, medical office buildings, multi-family, etc) and how he generates leads.

Of course you could do an engineered cost segregation study to reclassify some of that depreciation to 5, 7 or 15 year asset lives with accelerated treatment.

I was taught it by some of the best.of course most folks now think they can learn all they need on the internet.. but sales skills NOPE need that one on one training.. its very little nuances that create the winners from the losers.I cringe when I see folks launch into direct mail wholesaling type business with zero sales experience most will just flame out as they have no skills to close the deal.I was taught by some of the very best in the industry in my day...

You might also look at Homelight.com and Upnest.com, which are pursuing variations on what you've described.Most of the real estate industry is at least 10 years behind corporate/B2B sales in terms of using technology for lead gen and funnel management, and even if there's interesting stuff already out there from Zillow, etc., you should take that as a sign that there's already a market, and given the overall size of the opportunity, there's plenty of room for others to play. 

@Tony Wu You have many options here and there are no set rules regarding the treatment of situations such as yours.  

Hedge by being in one of the top 5 markets for job/population growth (away from tech industry I.e.

Dan, the reason every answer in this industry is "it depends" is because of circumstances like this.In Washington state, sales are typically done as Deed of Trust and if foreclosure occurs, it is through a non-judicial or statutory process.