Albuquerque is already such a wonderful place to live and do business so I am all for anything that will make it even better.  

I won't be able to make the cottage legal rental without living in the primary home myself.

This not only defers the taxes on the two rental properties but then once they live in the primary residence for at least 2 years that home now qualifies for the Section 121 exclusion on the gain.

@William Taylor so many options...Use your RE knowledge to: WholesaleFind rental deals to sell to investors locally or here on BPStart leveraging your personal contacts to build your sales businessFind a motivated seller willing to do seller financing:- Move in worst room or basement, rent out all the other rooms for max cashflow- You could even live in the basement and STR the rest of the house

I live and invest in Milwaukee since 2007, so probably a little bias here, but we are set up very well for future growth. 

I'm not sure about the potential for liability in a wrongful death suit if somebody is injured or killed in the fire, but definitely would not want to find out personally, nor would I want to live with that on my conscience.  

I am the first in my family to do REI and my goal is to break the tradition of working for a salary for 40+ yrs only to retire on what I hope will be enough to start living freely.

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.  

I like the tub (it wasn't cheap, about 12 grand) but there's not great service options where I live and not sure if I would get it again since I mostly have to take care of it. 

Note - if you live in your property for 2 years out of the last 5, then you don’t pay taxes on the profit.