It’s a bit of a tangled web, but if you need more info on it, do your research first, and then you can contact me to help you sort out the current rules. 3) The tax benefits are severely hampered if you there is any money from your original property that doesn’t get spent on the replacement property, so it’s best to purchase a more expensive one to avoid losing those benefits.4) It is imperative that you do not receive any money directly from the sale of the original investment property.

Any direction from current multi family home landlords are appreciated.Looking to put down up to $100K in down payment. 3-4 unit homes are my target1.

This is despite there being other similar single-family home listings in the area that are not grouped in this way.I contacted Zillow about this issue, especially since when I search for my specific listing directly and click on the public view, it shows outdated information (e.g., old history) rather than listing it as available for rent.What is going on with Zillow’s listing display?

The only reason I've heard of Morris Illinois, is beacuse our family used to drive to central Illinois to camp and boat, and Morris is directly on Route 47.Are you currently investing in Chicago or near you in Joilet @Scott Meech?

Let someone else buy the fringe areas and improve them first.To be direct, I can't imagine an appraiser using 5-year-old comps.

I would increase their deposit by that amount to ensure you have enough to cover an empty tank and a month of lost rent.

@Danny RandolphYeah, I’m currently in the construction field and we usually get a 20-40% deposit, then get draws after certain stages/inspections have been passed

thanks for being so direct. the LP bought at 4 cap.

Quote from @Jaycee Greene: Per your message, do you mind if I send you a connection request/direct message? 

For many owners, this is a win.Other owners may value the consistent monthly deposits rather than worrying about the usually seasonal STR incomes.