If you choose the right company it'll drastically reduce your risk of maintenace coming up in the first 5 years and also help your yield.

@Dave Foster is a great resource on 1031 exchanges. 

We love helping sellers around the country connect with investor buyers and potentially retail buyers with the goal of creating win-win-win scenarios.

I'd like to shoot a long shot of hoping someone knows someone or can help me in any way.

Cities tend to have diversified revenue streams and robust infrastructure, which historically have helped them rebound faster from fiscal shocks.

My focus is simple: helping out-of-state investors like you unlock the full potential of the Birmingham market.

When my youngest went to school, I changed my license status to Active, and have learned and enjoyed helping people buy/sell/invest for around 7 years now.Everyone's journey is different....you might one day no longer be a firefighter...you might move to another state....you might want to buy a house one day and having a real estate license could save you some money. 

I have year of 7 years of experience with drywall, and paint work so that helped me out a ton.

Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

Hope that helps- stop worrying about if you are wrong or right- it's a matter of whether there is opportunity or not.