Capital gains in the end?

I don't want to spend all my capital then be stuck.

You also will likely want to understand the costs included in purchasing and renovating that either get capitalized or deducted or no treatment.

what is the reference date to determine long term / short term capital gains for a real property?

I don't want to divulge all the details for the world to see, but basically my father left me an asset when he passed away and a couple of moves with that asset allowed us to book a huge Capital loss carryforward, which I finally got to use with this sale.

We will have to invest more capital than we originally planned to fix the damage, which will lessen our ability to re-invest in other properties, but the cash flow and rate of return on the property still work even if we estimate out what we think repairs will cost. 

Without an income stream your not going to be able to obtain capital or loans.

I want to, also, express my thanks to this Great Bigger Pockets Nation.

Given that Redfin and Zillow don’t know that I made all these capital improvements, in may be worth more than the aforementioned estimate and it’s conceivable that I could net $200,000 on a sale.

I therefore feel that this area will continue to appreciate its capital.