BUT I gained tons of experience and was able to get in the game.Sounds like you won't find something cheaper than what you have going right now, but have you looked at the live-in flip strategy yet?

The more knowledge you gain, the better positioned you'll be to make informed decisions.Your passion for real estate is inspiring, and I encourage you to continue pursuing your goals.

Transferring your current property to an LLC typically won’t result in a tax gain or loss but could trigger transfer taxes depending on your state.

For taxes, if the insurance payout is more than your adjusted basis (purchase price minus depreciation), you’ll have a casualty gain.

I’m confident that everyone who reads this will gain a deeper understanding of PMLs and HMLs :))

In a market where buyers a bountiful, sellers have too many other options to consider, before accepting an offer from someone trying to assume their loan. 2) Anyone who has owned their home for 3+ years is sitting on a substantial amount of gained equity from appreciation.

So your cash flow is decent, but after you’ve had a few turnovers after 10 years and have had some cap ex expenses, you’ve broken even or gained very little since the home hasn’t gone up in value much.

These resources can help you connect with like-minded individuals and gain valuable insights for your multifamily investments.Good luck!

How about a  job in the real estate industry both to accumulate capital and gain experience? 

You can also look at Schedule E, which connects to depreciation, though it won’t show the exact cost basis.Since depreciation affects the final cost basis, you might want to ask your CPA for a summary of your properties' bases to save time in the future.They should have a system where we can give you not just the basis but also a detailed gain (and estimated taxes) calculation within a day.