- Have you stress tested the deal to see how low vacancy could go to still pay your mortgage?

Using basic numbers, assuming I sell a property for $10M and after cost basis is accounted for and mortgage is paid off, I have a net taxable gain to me of $3M.I'd like to purchase a rental lake house property for $1M (funds coming from that $3M taxable gain). 

I have a current tenant who would like to buy a rental house he's leasing.

My goal: Net worth of $10M, or $30k net monthly income.  

Median Price: $699,900, +7.68% Yoy.Closed Sales: 4,105, 7.55% Yoy.YTD Closed Sales: 17,109, -0.50% Yoy.Inventory: 6,121, +34.14% Yoy.YTD Inventory: 27,419, -6.69% Yoy.New Listings: 5,203, 8.67% Yoy.YTD New Listing...

Currently, I work a full-time job, but I'm passionate about learning how to start making passive income through real estate investments.

The cleaner and more cooperative they are the quicker we can sell or lease the house.

The main key to our success is proximity to several very large housing developments.

Underperforming rental income and needing to be updated.

You're still going to have to recapture the depreciation which is part of your ordinary income, not capital gains.