That is a choice that I have made because I can financially make that choice without too large a sacrifice (I will need to budget a little better but no necessities will be impacted). 

Enough to pay monthly bills and other necessities.

Right now I have 6 months of cash reserves for:All my properties My business (overhead + payroll)My personal expenses (bare necessities, home, food)Having this 6mos. cash reserve is great, but also not a fan of having this cash sit in the bank, do nothing and NOT generating cash flow from real estate either.

So I have 5 years of 0 expenses other than the basic necessities (insurance, gas, custody lawyer, kids, etc).So since I have a great opportunity here, need some advice on possible ways to take advantage of this.

@Matthew Aubert a well run HOA can have a value and necessity.

Now is the time to start learning about important concepts like lifestyle creep and hedonic adaptation that keep so many people broke all their lives.Many young people who grasp the financial necessity of investing early on in their lives still often never manage to get it together.

Having a RELIABLE team in each place would be a necessity.

My typical rule of thumb is make sure you get two things on auto pay - bills and savings. 50% of your money should go towards necessities, 20% towards savings which leaves you 30% for fun money.

I also realise speed is a necessity when using loans, and I am not confident enough in my abilities to accept OPM at the moment because i might lose their money on top of my own.

Anything real estate related is similar, even if it isn't that similar Required Value of the Replacement Property The property being acquired needs to be an equal or greater value than the one being sold - even if the value is dispersed over several properties The 45-Day Identification Window The clock starts the day you sell your property Start looking for a deal before you think about selling the property You're allowed to identify up to three potential deals Some exceptions to this rule like the 95% rule and the 200% rule - seldom used The 180-Day Closing Window Strictly enforced The necessity of an Intermediary The proceeds may never enter your bank account or an account controlled by you The necessity of an accommodator1031 exchange endgame Cash-out and pay all that is due to the government Die and pass it all on - tax consequence disappears Remember to consult with a tax professional before doing anythingCh. 20 FinalThoughtsStart taking action!