Selling in Long Beach, MS

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I’m looking to sell a rental I have in Long Beach, MS. I currently have a tenant in place paying $1,100 a month. My objective is to reinvest to a more expensive property in Texas utilizing a 1031 exchange. My renter is still under lease until March 2019 which is not a great time to list. I purchased this new construction home about 8 years ago it under a “go zone” program which provided significantly can’t tax benefits for building new homes and renting them in areas effected by hurricane Katrina. How easy is it to sell a home with a tenant in place? Is it desirable for buyers to already have a tenant in place? Or, should I wait until the lease is up and then list it? Also curious to know what tax implications there are when selling a go zone property. Regards, Andy

Hi Andy,

I saw your post about your rental you have for sale.  I am curious to get your opinion about Long Beach, Pass Christian about buying rentals there. Trying to get more input from others that have or had investments there.