I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

I have to be misunderstanding something in the BRRR process because people are making this work.Please help!

Most lenders who do these will be bridge or very short term loans, say 3/5/7 years, however, some may still be doing 30 year terms on them. 

@Tanner Sortillo - I think I would echo some other's comments as well.

Hi @Adam HoekerI have my clients all on QuickBooks Online.We sync in their accounts to reduce human error in entries, and track each property's expenses and transactions to prepare for Tax time, this helps us to be prepared for 1099s as well, track Asset Basis and Depreciation, Mortgage Balances, and any Equity items.Since QBO is very common, it is easy to connect a Tax Accountant to this as well and have them pop in to grab reports they need to file. 

I also saw where I can upload my lease and have them e-sign, which would be amazing.

Don't be a hard baller.

A lot of people as well as my clients would definitely agree some of them flip properties and some keep them and rent them out and some people do both.

Maybe syndications but some of them aren't doing well and if they don't know how to vet the operator, seems very risky. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.