I am also in Florida and qualify for the homestead exemption, is that double dipping on the taxes or are they different since the homestead is property tax and the 1031 is capital gains tax?  

Thanks guys, Im more curious about 3-4 beds vs 2beds. 

I've been house hacking my place (I rent out a 3-bed 2-bath residence and live in a small in-law unit in the back) for just about 3 years and have been setting aside money each month for my reserve fund.

We are getting a sofa bed for the living room of our STR.

Make sure both properties have all the repairs and maintenance needed and no major cap ex is needed before you try to add one on double leverage.

It's a double-edged sword, but for the smart ones who work hard and actually try at their W2, they will get that option to leave much, much sooner and not have to leap.

I was double that and so was Holt homes.. some of the one off builders were still at 2% or 2.5%  and it varied with how hot the market was the commish was moving all over the place.. the transaction I am talking about the broker had their client low ball us and ask for about 200k in upgrades PLUS double our normal commish rate..

If you think you have average intelligence and a general hard working person, for non luxury STRs (competing with 3 star or below hotels in the area for average people who simply need a bed and a kitchen) I would use 60% occupancy rate to start in the beginning and then 80% after stabilization.

All units are 2 bed 1 bath, single story with off street parking. 

A double-entry system (like QuickBooks) allows you to reconcile your bank statements, ensuring no missing or duplicate transactions.