- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.

How do you intend to cash flow with such a low downpayment?

Hey everybody We own 8 rentals in Philly, we are looking to pull some cash out or get a HELOC in order to continue scaling.

This raises a question because we had a lease agreement on file showing a rental amount of $2,000 per month."

Hi Max, I can speak about the Columbus Ohio market (as this is the market I specialize in) but yes, there is strong competition here and there are obviously some cash buyers and they will always have a slight advantage.

I went all in, I had a few 401K’s so I cashed in the one that was growing the slowest and took the penalty and purchased my first property.

Yea the area doesn't look like it will appreciate much, I mainly look for cash flow.  

Cash invested: $18,000 Sale price: $32,000 '69 trailer fix and flipNew flooring in kitchenAdded ACNew windowsAdded GarageNew interior panelsBathroom reno What made you interested in investing in this type of deal?

That being said my residential rental will have a positive cash flow of $500 and I plan to rent out this other side of the duplex immediately and will have a balance of 600 to cover for the mortgage.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck.