Consider exploring alternative financing methods such as bridge loans, seller financing, or specialized 1031 exchange loans, which are tailored to streamline the exchange process while ensuring IRS compliance.I remember when I first got started with house hacking, I made the mistake of not looking into all the nuances of 1031 exchanges.

This really depends on the real estate investor, how much time they have, if they’re financially savvy, and if they can figure it out on their own without making mistakes that will cost you $$$ in the long run.Yes, expenses on the Duplex expenses need to be prorated between the side you occupy and the side you rent out.

There is more room for confusion and mistakes.

@Terrance Coleman Welcome aboard...lets of great resources or others mistakes to learn from here!

I remember one guy in the S.F.Bay area that found a site for a new Pepsi plant when Pepsi was unable to find one and made a very large finders fee, his mistake he got involved in the deal to far instead of stopping at the introduction phase and the Pepsi lawyers used that to not pay his finders fee, but only waiting until it was almost time to pay him and the deal was basically done.

Otherwise you will dream up the worst scenarios.  

First, you are making a mistake keeping the tenant who violated your no-pet policy and hasn't paid their share of the rent ($50 a month).

List all the mistakes you made, from screening to accepting late rents. 

With the mistakes that have already occurred, you are already costing yourself more than $500.00.Once the property is vacant and repaired, I would hire a local Property Manager to oversee it.

They were clueless about what we're looking for in a contracting vendor.Don't make the same mistake:)