A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.

Brickell has that same kind of potential, but with even higher rent ceilings thanks to its location.A couple of things to keep in mind as you dive in:Financing: As a first-time buyer, you might qualify for low down payment programs.

I've had Exec Platinum with AA for a couple of years and am Diamond on Delta already through 2029.  

One of my attorneys just sent me a bill reminder a couple of weeks ago for a fee I had already paid back in June/July, which never went through, and that I sent again in August. 

That said, my last Booking.com guest a couple of weeks ago was a bit difficult pre-arrival but ended up being a great guest and left a 10 star review (no comments though).  

I have joined a couple of groups on FB, and connected with some other people here.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

Capex and tenant issues tend to exceed cash flow and when you decide to exit after a couple of painful years, you are in for another surprise:It is shockingly hard to sell cheap homes! 

@Bill B.Here are a couple more things to think about.

Historically, properties have appreciated more in A locations, but the cash-flow is nonexistent in the first couple of years whereas C locations cash-flow day 1.