Hello everyone, I am completing my second BRRRR and looking to do a cash-out refi.

I had to crush limiting beliefs—like thinking I needed to start small or that investing out of state was too risky.

I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

I have 4 more paid off lots I was thinking on building on.

I am a real estate agent and investor. 

I have mixed feelings about this as I am of the opinion the government is generally not the best at administering things in the free market, however I have seen first hand some slum lording of STR's and unsafe practices.I think for now if you are in those TX markets you will have to play ball but I think they will keep pushing new rules on you until people push back.

Borrowers need to have 9 Months' P&I worth of liquidity (cash / stocks / bonds / crypto / etc), and 100% net worth relative to the loan amount.

I will be primarily wholesaling but I personally will be looking for Buy and Hold of single family and residential multi family units.

I am new here.

As a vet I would love to help other vets out.