Something you can do to start your 5 year plan would be to live in your Condo for 2 years so you can qualify for the $250k tax exemption (if single) $500k if married and then take those funds to either put a down payment on another property you could live in plus you would have some left over funds from the sale.

Yes, this property has been continuously producing (well I set the distribution 🤣) 8% coc and at the end of the year 2021, after building 6 figure capex reserve purely from the cashflow(we needed cuz the bank capex line of credit was almost gone), still had some left over money, so we distributed it as a year end bonus which brought 2021 coc return to closed to 10%.

It's was all about maximizing every dollar spent and minimizing every expense we could to have as many dollars left over for profit for us. 

But you also want to make sure you have enough left over to make sure you have some holding costs should things not go as planned.

I read that some were buying the rights of people who are owed money from Lehman Brothers at 100% on the dollar because they think more is actually going to be returned with the UKs required interest, if there is money left over after they pay all their debts.

This process allows you to get a new mortgage for the purchase and roll any cashout from any equity (whatever is leftover after the existing mortgage is paid off on the old house) as the downpayment -  all without having to actually sell the old home first.

If your rental income exceeds your mortgage debt than you have left over money at the end of the month (cash flow), you are in more debt but your RE debt is being covered and you have something left in your pocket

But classifying your depreciation (either the leftover annual depreciation after taking bonus depreciation, or the regular amount of depreciation if you didn't take bonus depreciation) can be taken as an active deduction against your W2 income for as long as you materially participate in the property.Disclaimer: I'm not a tax professional so not financial advice. 

Definitely look at one that allows you to invest in stock so if you have a little money leftover from a deal or while you’re waiting for the next deal you’re not losing income.

Any left over can be used to buy another house.There are caveats to this of course.