Risk and reward is real, I would rather have massive success with a few failures than 0 or a very modest return by window shopping.

I own a unit in the bldg and get a massive Cap Rate as I bought it distressed.I love zip code 07306 and 07307. 

Then build a massive portfolio with your high income and no debt.

There has been quite a bit of investor activity across from the Expo center, and there are plans for a massive mixed-use development there.

So for many other reasons, including unemployment insurance, workman's' comp it's cleaner to keep things separate than one massive accounting mumbo jumbo. 

BUT, that being said, both these tax incentives are massively powerful tools for RE investors, and it pays to do your research and learn the ins and outs -  it could save you big $$$ when it comes to tax time.Here are a couple helpful articles on the 1031 121 combo: https://www.1031exchange.com/converting-property/http://www.exeter1031.com/article_overview_1031_12...http://www.exeter1031.com/application_sections_103...https://apiexchange.com/1031-exchange-primary-resi...Either way you go, it sounds like you're in a good spot.

Massive action, determination, perseverance and hard work lead to success. 

Take massive action and don’t slow down.

The sheer cost and volume of massive ongoing direct mail, bird dogging, etc that goes into what they do is a serious effort and one to be respected.

Doing things in the right order matters as in most rental markets it would be harder to get good investment returns for example on refinishing hard wood floors for a rental... buyers appreciate/expect refinished floors more than the typical renter... you also would not want to have 5 years of wear on refinished floors to then put it up for sale.Do all that and in 5 years you can still decide to keep it you will likely have massively increased the appraisal value, do a COR and fund your next deal.