It would be ideal to chat with investors operating in the Midwest, but I welcome anyone's perspective on BRRRing from a considerable distance (plane flight away).Thanks!

I'll let others chime in on their experiences, but from a motivational perspective, I think attending live events and getting the "conference high" is something that only happens through in-person connections and being in the same room with investors who are eagerly pursuing their real estate/financial goals. 

If you are looking at this property from a residential and rental perspective, then it may work as long as you are willing to put your own income into the property. 

I appreciate your perspective on “appreciating assets” and agree.

I think it puts the increase into perspective and I get no pushback or arguments from my tenants.

I am looking to learn and grow from different perspectives in the real estate investing space.

You should consult a real estate attorney or tax advisor to handle the legal and procedural details.From a tax perspective, there are several implications.

For perspective, the rent is $2,500 and the pet deposit is $500.

Managing a property can be incredibly rewarding, but it does come with its fair share of challenges—especially with the recent shifts in Rhode Island legislation.In 2024 alone, 39 bills were introduced, and seven significant ones passed, including extended rental terms, mandatory fee disclosures, and other updates that every landlord should have on their radar.

From a tax perspective, I am assuming you would like recognize $0 of the gain on your property in this potential 1031 exchange.