Short term gains using it equals long term cost.

Other ideas that have captured my attention are finding a 4 bed/1.5 bath house that has room to add a stand up shower to make it a proper 4/2. 

My AC unit has another 3-5 years before it’ll need to be replaced so I’m thinking this may be a clean exit before large big ticket items start needing attention in the next 5 years.

This offsets your mortgage and builds equity while you gain experience with lower risk.Real Estate Investment Trusts (REITs): REITs let you invest in real estate without directly managing property.

If you have lived in the property for two out of the previous five years you could qualify for the 121 exclusion, where you get the first $250k ($500k if married) of the gain tax free.

Real estate is a fantastic way to build wealth, and your healthcare background likely brings valuable skills like patience, attention to detail, and resilience—all of which translate well here.

I agree with Afra at that price point it's best to start with flips that have $15K - $30K rehab budget to gain some experience and get a good team in place and then work your way up to larger rehabs with higher ARVs!

@Jake Hughes A 1031 exchange is a great way to indefinitely defer all of the capital gains taxes, and gain access to that tax to use over time for your own benefit.

While these losses won’t immediately offset W2 income without REPS, they can be carried forward to offset future rental income or capital gains when you sell the property, lowering your tax burden long-term.This post does not create a CPA-Client relationship.

The key is going to be showing the long term gains, since they won't see any returns for 1-2 years.