I hope your middle finger behaved as you left the building for the very last time ;-)On a serious note, with the experience you gained on your journey, can you tell us your Top 3 do's and don't as one tries to accumulate RE.  

Focus on cash flow and exit strategies, and consider starting with a smaller project to gain experience and minimize risk.Good luck!

Once you sell your old property and use a QI, the exchange will be complete and your capital gains will be deferred.

You need to pay attention to things like rental demand, upcoming developments, and overall area growth potential.

Currently working to gain capital as I educate myself and seek knowledge through every possible avenue.

You noticed a pattern in the fraudulent tenant applications and you moved on from a PM who wasn't paying enough attention to notice that themselvesTruly a masterclass in landlording 101, thank you so much for sharing this with everyone!

Most spend too much of their time and resources on the set up and completely ignore the day to day responsibilities and/or cut corners and costs where greater attention and resources should be spent.  

However, these costs can often be added to your property's basis, which helps reduce capital gains tax when you sell the home.Once the property is officially a short-term rental, subsequent repairs and maintenance would likely qualify as deductible expenses. 

Plus for its high cash flow potential, utilizing a 1031 exchange to reinvest gains effectively made this experiment a relatively low risk for me.

Thanks for this post that brought the program to my attention.