So it supposedly accomplishes the same goal of a 1031 in that it defers tax (now the basis in the new property would be reduced due to the consumption of bonus depreciation in the first year).

You will also need to consider that you will need to draw up legal contracts for the events, liability insurance, possibly food and safety/alcohol permits, and a bevy of other things that I probably don't know about. 

I'm still in the self-educating/consumption phase of REI but I just wanted to reach out, say hello, and connect with other CLT area investors.

As for time spent managing the property, I have nine recovering alcoholics and addicts in one home, living together in a Group Family Environment known as a Sober Living Residence.  

@Mike MartinIt varies by consumption.

Add in alcohol and done tom turkey.Maybe make a deal with a local rental company to send guests their way. 

Hi everyone, I'm new to bigger pockets, I don't want to take up too much of your social media consumption time, so I'll jump right in.  

Maybe the old "alcohol and healthcare are recession-proof" adage hah!

Decline to rent to anyone who emits the odor of an alcoholic beverage during the interview.5.

I hope so William st needs some loveWe need someone like you over there so you can reason with the neighborhood and scare away the ones that you can’t work withAlso bring in those new people with a vision for change I do my best but I don’t really try to chase the druggies or dealers away (I have no time I’m working and it’s dangerous fighting with people that have nothing to lose)I open the doors and turn the lights on That usually moves them down the streetI might have the occasional argument once in a whileI don’t really like the hiroin addicts Or the crackheads or alcoholics dealing with them is hardThat is a whole new health issue working in and around these buildingsForget about lead, asbestos ,mold or just breathing the construction dust and the dangers of the jobWhat about when we come across drug  Needles ,condoms, human  feces,People  sleeping in abandoned buildings that want to attack you when you tell them they have to leave Newburgh is rough but I love my job