Section 721 of the Internal Revenue code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) or an Operating Partnership without triggering a taxable event.Many investors are aware of a 1031 Exchange where an investor must find a replacement property to defer capital gains taxes on the property that was sold.

Both were key factors necessary for me to pull the trigger given the 15-hour time difference and working full-time.

There's a reason for that saying about keeping your powder dry; you have to have capital to pull the trigger.

If you like the layout of it already, then it sounds like you should pull the trigger and make an offer.

Then when the deal does arrive you can pull the trigger and make a higher return on your money.

Or you just find deal after deal and you don't pull the trigger?  

Haven't pulled the trigger yet. 

The market moves really fast, so you’ll need to be solid with your numbers and ready to pull the trigger.

Jossie,You're going to need an attorney to assist you with rental contracts, local laws, HOA rules, tax issues, commercial liability insurance for personal injury and workers compensation.

Check to see if giving you the home will trigger gift taxes for you or your parents.