If you've never lived there you will get whacked with capital gains tax right off, unless you invest the 450K (minus commissions and closing costs) through a 1031 exchange into better cash-flowing properties like some SFRs in West Valley or a 6-plex in Taylorsville.

While taxes are certainly a consideration when I'm doing a cost/benefit on a potential sale, it wouldn't be my primary driver.Any s/t gain would be considered ordinary income.  

However, this account, while I'm no longer contributing to it, is gaining 7% annually.

I'm not saying one is better than the other, and I sure as heck am not saying that one is "always" better than the other as some would, but I am saying consider the entire return over the entire life of the investment vs the risk.Entire return is cash flow + capital gains, projected into the future then discounted to the present value.

Feel like in just that last few weeks I've gain a vast knowledge just from being on this site.

My net gain was about 134K.I wish I could say that this investment was all genius and foresight, but of course there's always a little luck, and perhaps even some divine intervention!

Don't want to pay capital gains, so 1031 is probably required.

I think the best way to learn is to pair up with a seasoned investor for your first few deals to help you gain some experience.

I believe we could flip it and profit $15,000 to $30,000 (my profit number isn't exact because I believe with it being a HUD home and with it being listed for a while we could buy it under the listing offer which would be great because we will gain instant equity at purchase.)

I'm here to learn and gain insight and inspiration to make 2016 my most successful year!