“Genius” me agreed to rent a house for them in exchange for fostering a few of my dogs (I run a dog rescue group.)

There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

I'm a new investor based in Dallas, Texas, currently working in IT and heavily invested in stocks.

Buy a dividend stock.

If you like your gig and making money from it.Real Estate is first purchased as an investment.Any potential tax decrease is a plus.Comparing real estate with other investment types such as stocks / bonds, real estate will likely get you the best after tax return.

Especially if it an odd sized door that Home Depot or Lowe's doesn't carry in stock and requires a special order.

General appreciationIf it is in a solid area, maybe the play is appreciation and then a few years later do a 1031 exchange to another, better performing property.With multifamily, typically you can't do STR, but maybe MTR?

Security deposit amountYou can find plenty of examples by searching for "tenant estoppel certificate doc" or exchanging "doc" with "pdf" for more options.Here is an example and explanation: Sample EstoppelSome have a lot of legal jargon but this document does not need to be so detailed.

This helps address any issues immediately and keeps operations running smoothly.3) Attention to Detail: Beyond just surface cleaning, I look for cleaners who pay attention to the small details—things like checking for missing items, making sure coffee maker is clean, ensuring all amenities are stocked, and noticing any maintenance issues that might need attention.

You do a partial 1031 exchange or not at all ( pay the tax ) and invest in value add turn around deals with a syndicator or on your own.None of what I have posted here is legal advice.