r/RentalInvesting

I’ve been doing research all day and at this point my head might float away lol (yes, I will be contacting a CPA this week but wanted to get an idea of how it worked.)

Bought home in FL 2022. $393k
Didn’t know about the 2 outta 5 rule - and we moved to AZ about 1.5 years later. Had renters move in and they’ve been there for 2 years. They leave at the end of this month.

The value of the house per market is $365k so it’s gone down considerably.
We figure the house has depreciated about $21k in the last 2 years.

I realize we’ll have to pay some type of depreciation tax, but because we’re taking a loss on the sale, my understanding is it won’t be much.

The question is - how does the capital gains work?
We didn’t plan on taking the money and putting it into an investment property so a 1031 doesn’t make sense for us.

But I’d like to get an idea of what I need to do that is the smartest way to protect myself from additional taxes because we didn’t follow the two out of five rule.

Any insight helps because then I have a better idea of what I’m discussing with CPAs and realtors this week.

My husband purchased a home in 2009, I moved in 2012, we got married in 2014 and I started contributing half the mortgage. My name is not on the house. In 2022 we purchased a house together and turned the previous residence into a rental property. My husband is refusing to put my name on the rental house. I’m uncomfortable contributing more money to repairs, mortgage, rental fees etc. until he does add my name.

Do I have any claim to my investment thus far?

Location: Oklahoma

Have a waterfront STR in central fl that I’m having trouble getting booked via vrbo and furnishedfinder. I read that many people have success through Airbnb but personally I never use them. Considering signing up with Evolve, but maybe I should try Airbnb first?

With all the uncertainty of future. Is it ideal to park the capital into a residential property which will be delivered in following years. Or is it wise to buy into already constructed units. Even though India has demonstrated great capability in crisis this is a new one and it will affect constructed cost to rise up. I believe as demand for production rises. What's your thoughts?.