And if you don't follow the guidelines precisely, you can be caught without a chair when the music stops.  

There is only one place I may need to 1031 for a more profitable one.Our goal is dependable monthly cashflow - we'd like to be able to live off of it sometime in the next 5 years so I can slow down my day job as a music producer and spend more family time. 

Appreciation and cash flow.You can make an analogy of this and see this as an instrumentalist playing solos over the chords of your favorite song.In western music, there are 12 notes.

I also have a video production business (www.houstonstreetproductions.com) which provides services for film, video, music video, commercials, promotional videos, voice overs, etc. 

But I cannot count the number of calls I have received at 2 o'clock in the morning from a tenant who has "butt" dialed me while at the bar or what sounds like a great party with music blaring in the background.

Hello fellow real estate junkies, I have been lurking on the site for a while now, shamelessly devouring as much information as I can possibly digest. I'm currently a single family home investor with a steady day job ...

@Melody Bynumall loans involving an IRA must be non-recourse.

@Melody Bynum that is a really hard one to answer in short form.

We are only a mile from a nice beach and boat landing as well as a local bar/restaurant that has live music, etc.

Thanks for the input Melody.