If you are selling for 1M after closing costs you could purchase two 500k properties in your exchange and own one cash and a mortgage on the second.

Your original purchase is depreciated over 27.5 years.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

I get that having a paid off property is very comforting, but to me it's not the best move if you're trying to grow. 20% down and 3% annual appreciation means you're making a 15% return on your downpayment. 

Some focus purely on numbers, while others look at long-term value, location trends, or creative financing strategies.For those of you investing in Chicago (or similar markets), whats your mindset when evaluating off-market opportunities?

(Which you could also then do with your new purchase in 2 years.

I purchased a property in Chicago in 2024 and pay $400 a month for my water bill (unmetered).

I collect both a security deposit and purchase a damage protection waiver.

Focus on networking with local investors, learning market trends in your new area, and deciding on a strategy that fits your goals.Good luck!

I am currently working on phase 2; building 2 ADUs.The permits are already in the works but the biggest question is what is the best approach when funding these 2 ADUs BEFORE I have the equity from my home?