Also remember the time these returns will take to amend along with the possibility of opening up audit periods/red flags with the IRS due to amendments.Doing this yourself on turbo tax likely won't be your best bet considering all of the details.

He said he was doing his exchange through TIC 1031 Exchange.

If they don't have one, I bet they know somebody.Answering your questions:1.

Looking forward to exchanging insights and growing together!

One thing I'd think about is that some of the retail products which do this seem to be useable in a 1031 exchange and some not, so I'd keep that in mind when selecting what to invest in, if 1031 exchange is part of your strategy.

Please let me know if they would like to exchange contact information.Best Regards,Andrew

Most of the regs prohibit it within the city, so I would check and see if the area you are looking allow it.Your best bet is to look at the markets on VRBO and AirBNB and see what is out there right now.

Asking for a prequalification letter from them seems like an easy and fair exchange.

They can optimize tax strategies across states and assist with allocating deductions, handling multiple-state filings, structuring future ownership, and advising on capital gains or 1031 exchanges.

When ROE falls below this range, it might be a sign that your property has accumulated too much equity, and you could consider options like cash-out refinancing, selling, or 1031 exchanges to redeploy that equity into higher-yielding investments.During the growth phase, focus on maximizing returns by keeping your ROE within or above this range.