Another CPA can correct me if wrong but I don't think there's going to be any recapture here.27.5 to me implies 1250 property and if acquired after 75' means no additional depreciation to recapture.I think there would be unrecaptured 1250 in the amount of the depreciation taken previously, max 25% at ordinary rates.The total gain less unrecaptured 1250 I believe would be 1231 capital gains, not considering other factors like look back and netting rules.Also the land would be 1231 and would get capital gains treatment.And personally I would subtract selling costs as a capitalized selling cost.Amount RealizedLess: Adjusted BasisRealized Gain/LossLess: Selling ExpensesRecognized Gain 1001I could be wrong though so correct me if so.Article for those interested:Depreciation recapture in the partnership context (thetaxadviser.com)While Sec. 1250 only requires additional depreciation to be recaptured as ordinary income, Sec. 1(h)(1)(E) subjects unrecaptured Sec. 1250 gain to a maximum tax rate of 25%.

Weather that's for swapping numbers to meeting in person for coffee.

We've had 3 in the past 4 months where out of state clients bought homes in the 70 - 78k range we rented them for $995 - 1150 but they usually get under contract in 3 or 4 days at most.   

Unfortunately due to personal reasons, I was not able to attend the event.

We spoke with a lawyer who advised forming an LLC to purchase the home to protect our personal assets.

Buy the property in your personal name and get an umbrella insurance policy for protection.

@Christian Nielsen for my personal project, i am building an ADU within the structural envelope of my existing SFR. 

My husband and are under contract on a great 2 flat with illegal basement unit off of Logan Blvd in a desirable location in Logan Square with a lot of rental demand.

Usually I will expand the area and look farther back in time before looking at under contract comps.

Things like job opportunities, school districts, amenities, and personal preferences should be considered when making a decision.