He is currently a travel PT that makes $37k pre-taxed but after including all his stipends, his annual earnings are  closer to $95k-$97k.

In a 1031 exchange, does the replacement property need to be more valuable than the total sale price of the deal I sold (including other investors), or just my individual portion of the investment?

  $6.25k feels manageable, so I compared the rent vs purchase numbers.  

Practice analyzing deals, explore surrounding markets if NYC feels too competitive, and stay persistent, closing your first deal takes time but is well worth the effort.Good luck!

If you’re able to dive deep or work with someone who has boots-on-the-ground experience, the returns can be very rewarding.Good luck with your journey, and feel free to reach out if you’d like more insights or resources on Detroit!

I feel like I can figure it out on my own.  

My second house was under contract before it was even listed, but the combination of my GC disappearing and having to restart the permitting process for the carport in March right at the start of Corona lock downs dragged that out and eventually feel out of contract.

If you’re just getting started in real estate, feel free to reach out – I’ve been coaching a new investor in the Houston market for a while and am happy to help you however I can.

@Kevin Wood: Fixed Asset Management module is included in the QuickBooks Accountant version where you can calculate the depreciation.

Personally I feel as if it will be a good way to scoop up a good value add someone just wants to get rid of.