the gain recognized from the exemption of sec. 121 is tax free.  

STICK TO YOUR PLAN (NUMBERS)#5 walked up on a pre-foreclosure and had a motivated seller, House was perfect for total rehab and addition for extra equity, huge lot for garage appt conversion. but my toolbelt wanted to do seller finance and she just wanted cash. we were apart about 15K and i just wanted to be at 65% ARV and she was at 75% ARV. i wont lie i was intimidated by the project scope. but what i failed to recognize was her pain. i did though eventually see it and when i did it was too late. by then someone else had promised her what she needed to hear. its never about the money...its always about the pain. can you relieve and help the seller with that pain. i walked in with cold hard cash when i needed to walk in with a both ears on listen mode. im not a good snake oil sales man but im learning the craft of listening. listen more than you talk, practice this with your friends and family try to keep conversations going with you saying as little as possible.

Even if you overspend a bit on the first deal, it'll help you recognize a steal when one comes along.

You can also do this on the side but recognize the real work and time involved.So, with that said, what is your goal?

I also seen that many people using the V.A services had a problem with setting up a bank account because the bank was able to recognize that they were using a V.A.

Using what I've learned and applied here on BP allowed me to recognize immediately that the deal made sense.

Are you worried you won't recognize when to slow down?

@Jeff PavaloneJeff, PA is the only state that will not recognize a 1031 exchange. 

@Alex Griffith lol I didn’t recognize it was you !!

I believe there is a specific military power of attorney that is recognized by all state.