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Investment Property

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    Investment Property

    Hi, I live in Colorado and have owned a 4 unit building for a number of years. This is in addition to my personal residence. About 3 years ago, I pulled a large amount of money from the 4 unit building during a refinance. This was when the economy was booming and I had a decent job. Now I am faced with bankruptcy as I have lost my job twice over the last 2 years. I am working again now. My question is 2 fold. Will I have to sell the 4 unit building even if there will be no profit once selling fees and capital gains are paid? And if so, will the money be used for the debt of the bankruptcy instead of for capital gains, leaving me holding the bag for the capital gains?

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