So #1 importance in this whole thing is being 100% absolutely positive in the final ARV amount, confirmed by at least 2 different real estate agents and supported by at least 3 comparable SALES, sold within 3 months and within half a mile.

I have a friend in my hometown in the midwest who sold his business and started rehabbing properties there for buy-and-hold purposes and he's been full time now for some years.

If you relied on comparable recent Sales, this could be a major mistake for many, many reasons.-- Have you personally and thoroughly inspected each property and then made a detailed list of all the repairs and improvements you feel is necessary.-- Have you put numbers to the costs, delays, and holding costs?

Therefore, since your total gain is less than $416,666, the entire gain is excluded for income tax purposes if you sell it this year.

I didn't know the purpose of ownership played into the 1031.

I know evicting specific peoples isn't allowed and addresses have to legally be split up (compared with just writing 1/2 etc on the mailboxes). so I am curious is it a possibility and if so/not what are the general steps/guidelines to do so.

Hey Rudy Brown,As long as it's in line with the comps, and I mean you are comparing apples to apples, I don't see why you wouldn't want to pursue further.

If your margins are tight and your market changes or if your development is too unique for you neighborhood that there are no comparables, you could stand to get into trouble.Goo luck.

What they paid for a note, assuming it wasn't recent and for the sole purpose of liquidating it, will be irrelevant as to the acceptable price.

With all my skills learned from BP, I have identified 2 properties in my city, brief information about both of the properties is mentioned below.I am planning to purchase this property with 2 purpose in mind, for next 6 - 8 years ( or more then that) I'll put this property on rent and after that I may stay there or I may not ( may relocate to another city, Nagpur).First Property •Located in an area which is developing rapidly as it is near to a big software SEZ.