I think it'll be a high hurdle to sell and reinvest- you'll pay fees coming and going, and will probably have some taxable consequences as well.

They invest just like IRAs into real estate notes precious metals etc.One thing I forgot to mention is a few states treat HSAs as they would a taxable account.

., and a reserve for capex) to get your Net Operating Income (NOI)From your calculated NOI, you can really start digging deep:Subtract your debt service from your NOI to get your cash flowDivide your NOI by the acquisition cost to get your cap rateTake your NOI, add the reserve for capex back in, then subtract your mortgage interest, to get your taxable incomeDivide your NOI by your debt service to get your debt coverage ratio (tells you how many times will your NOI will cover your debt/mortgage payment).

To answer Brian's question, I believe you just want to cut your losses and recover some of your cash and possibly pay back borrowed money.Assuming my hunch is correct, you just claim your losses, and there is no tax issue.If you do have a taxable gain after selling this property, you will not have adverse tax consequences, either.

We know for sure in that case that the check amount to him will be different that the taxable income numbers.

If you can't identify a property in 45 days you blow the exchange and your gain is now taxable. 

The reason for this is that there are too many variables that affect your taxable income, your effective tax rate and your actual tax bill.

If you rehab it in the S-Corp and sell it to yourself, wouldn't you have some taxable profit in the S-Corp?  

Originally posted by @Will Grabert:@cargi OzcaglarPlease forget the reits as well, they will not perform well and have not been doing well in a raising rate environment Yes, this is what I will be doing, not touching REITs in taxable accounts.

@Susan Grinde, If you do not replace the amount of the note in your exchange account it becomes taxable.