But make sure you make a file labeled "why I intended to hold this and what changed".

When we collect the holding deposit, if the tenant does not move in as they have agreed they forfeit their deposit and their application is revoked.  

So I would continue to hold the property - but I would be sure not to miss the ability to exempt the gain - so be sure to sell within 5 years.  

I currently live in WA state and invest out of state for buy and holds.

Investment Info:Large multi-family (5+ units) buy & hold investment.

.- Owner must sign a Hold Harmless to indemnify us against any potential tenant lawsuits relating to the work their contractor is doing.--- Another lawsuit resulted from owner's contractor taking down basement handrail to get supplies down the steps, then they didn't put it back and tenant fell down the stairs.- We also negotiate a reasonable completion date, depending on the Scope Of Work (SOW). --- Who gets all the phone calls and wastes time calming a tenant down because the owner's contractor doesn't show up as scheduled after they took time off from work or a 3 day job takes 3 weeks?

Investment Info:Single-family residence buy & hold investment.

As for holding a home and building another one - be sure to include carrying costs of the first home while building the second.  

Originally posted by @Danae Meurer: @Steven Hamilton II We do not hold anything through an LLC.

I am a buy and hold investor.