Assuming your numbers are accurate, I'm estimating your monthly "rent" or your contribution to the monthly expenses will be about $2,000.

A couple of follow up questions. 1) After the 1031 exchange, and then after the follow on 721 contribution, I own an interest in a partnership held by the UPREIT.

Several economic factors are contributing to this shift:Overbuilding: Some areas of Charlotte have seen significant overdevelopment, leading to an oversupply of rental units.Tighter Money: Rising interest rates and economic uncertainty have made tenants more cautious with their spending.Tenant Behavior: Many responsible renters are choosing to stay put rather than take on the cost and hassle of moving.What Does This Mean for Landlords?

Long-Term Wealth Building: Holding onto the property can contribute to building long-term wealth through both appreciation and rental income.Cons of Renting: Property Management: They’ll need to manage tenants, handle maintenance, and deal with potential vacancy periods.

With the Roth IRA, you can only take your contributions out.  

I think these high-end sales contributed to the high averages and medians for prices.

We’re really best suited for those high income earners out there with strong investment experience and cash positions to literally take the reigns and create a strong cash flow product and tax write off for them with minimal time spent on their part.

The reason I ask is that knowing the fast movers of the area may help you choose your project.Lastly, what kind of renovation budget have you established, and is it an upfront budget, or will you be contributing to it over the time that you live in the property and renovate it? 

Its affordability, ongoing revitalization initiatives, and strong rental market contribute to its appeal.

Those effected go well beyond the property owners, the economic contribution of RE and subsequent economic loss in the form of: management, maintenance, landscaping, caretaking, hospitality, tourism, contracting, designing, pools and gardening is economically catastrophic and will reverberate well beyond specific zip codes.