Definitely a lot of good points here that I have not yet implemented and should.Quick question: I bought a turnkey property in a neighborhood in the north part of the 64133 zip (Raytown), just south of I70 called Sterling Acres.

@Ryan KeenanThis is a strategy I am going to implement once the opportunity presents itself.

The 1031 will also let you defer capital gains.And if you daisychain 1031 exchanges, you can implement the strategy of "defer, defer and die" where you pay none of those taxes and when you die, your heirs inherit on a stepped up basis and don't pay taxes either. 

@Matthew Zachman I was in your shoes a couple years ago, with the goal to purchase a <$500 multi-family in the Houston area to implement the now famous house-hacking strategy.

I think you need to work through this before you consider implementing a private financial improvement program like the one you're describing.

Multi family is easier to implement processes as well as the ability to scale versus single family.

I understand there are limited exceptions to implementation as in San Fran, NY, etc.

The key is to be educated in the various options and keep your eyes open for ways to implement them.

You are in the right place, and you will do very well if you stick around, learn, and implement what you discover here.

You are in the right place, and you will do very well if you stick around, learn, and implement what you discover here.