It's essentially 4 duplexes.  

@Marc-Andre BordeleauWe are looking at 16-unit with comparable revenue (actually a little higher at $12,500) - on the expense side, our taxes are much higher, so in the end they would be close.Be certain that you have not underestimated the expenses.  

so paying cap gains should be less than what you got in refunds. with that big of a loss you should have carry-forward the losses or even carry back and get a refund for previous years (if your tax bracket was high in those years), unless you make more than that a year and wrote it all off in 1 year... essentially, you already got the refund (if not, your accountant sucks), you just have to pay some of it back if you sell the house. why not change it to owner occupied to avoid the cap gains altogether?

There's a wealth of vehicles out there from essentially no payment in exchange for total security (bank savings accounts, treasury bonds) to high yields but significant risk to principle (aggressive emerging market growth mutual funds, i.e.).

You can either stick it out and essentially have a systems repairman on call that only charges a $75 fee and provides parts for free, for ~600/year.  

Are you essentially doing the BRRRR method?  

I don't pay rent/electricity etc. at the moment and essentially pocket my paychecks.

Remodel:  Buying a fixer upper sucks as a rental because while the property is being rehabbed, it is essentially sitting empty doing nothing but creating bills for you. 

I believe in my revenue numbers I accounted for the loss of rent of $7200 annually and based on the prior two years.

Miguel "Mike" Perez Actually their prohibition on short sales to family members/related parties is purely an attempted safeguard to avoid "sweet heart deals" where they may get less than market value, and if it were allowed it would also encourage many to try and get rid of part of their loan balance by simply running it thru a family member in a short sale, and essentially retaining the property.