You’re really limiting your chances of a faceplant. 

I have two properties now that I've improved slowly over time, and cash flow well, but it wasn't exactly a straight line of success. 

They seemed very pleased with my presence and willingness to improve their units. 

Their split was $130k improvements and $220k land.

The adjusted cost basis would be your purchase price, plus capital improvements, minus depreciation, like what @Josh St Laurent said.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that land itself is not depreciable.

That’s why improving your Click-Through Rate (CTR) is one critical metric to focus on to boost your Airbnb profit and visibility.The key to improving your CTR?

My PM says once the property is re-leased, they will send the evicted tenant's outstanding balance to a collection agency, but the chances of getting that money back seem slim.What have other landlord's / PM's done to get some of their money back after an eviction?

Since you don’t plan to convert the property into a rental, options like depreciation or 1031 exchanges aren’t available.Step up your cost basis: Add in eligible improvements you’ve made over the years (renovations, additions, even some closing costs).

It also improved refinance options down the line, making it easier to pull capital back out for the next deal.It’s a reminder that appraisals aren’t just another box to check for the bank.