It would be considered a sale and the selling price would be the debt discharged (amount on the 1099-C) and the basis would be (purchase+improvements-depreciation).

Print some of those off, go to your local home improvement store, and start looking around and asking question of the people in the store.

Aside from knowing the value of the real estate (land and improvements), one would need to know how much net income (after operating expenses) the business creates, the value of inventory & accounts receivables, etc. to determine value of your business.

If you do leave it, and have supply or drain side leaks, you end up tearing out all the other new work to fix it.If you choose to do nothing, and the rest of the home is "fresh", then the bathroom becomes a big detractor, and will affect the quality and number of prospective applicants.Of course, if you are just flipping, glazing the tub, surround, and sink fixture can make a HUGE appearance improvement for very low investment, and you can pick the latest designer colors!

Recently I have been running into many situations like this.ny suggestions on how to improve selling property in more rural areas aside from showing more pictures?

The best advice I could say is. . .Always continue to further your knowledge in REI.Get a job that can work around your school schedule and save up some money while you are learning about REI.Try and improve your credit score while working and going to school if you can.If you are going to school in a city that you plan on living in afterwards then do things that are important for REI that don't cost a lot of money.

As Wheatie said, I would NEVER count on rents going up to improve the cash flow.

He or she can also rent the property, improve it, sell it, etc.

On a SFH you have to apportion part of the cost to the land and part to the improvements.

Also see if you get an automatic right to buy subsequent years if the taxes continue to not be paid.If there is a tax lien and the property has been improved with a home, etc then expect 1 out of 200 will not be redeemed.