Feel free to shoot me some high level particulars and I can keep you anonymous. 

Are you self managing those properties?

The calculation involves:Selling Price: $1,075,000Original Purchase Price: $355,000Depreciation Recapture: $105,300 (taxed at 25%)Capital Gains: Sale price minus original cost, minus depreciation, minus selling costs (~15-20% federal capital gains rate for their income bracket).State Taxes: Since the property is in California, state capital gains taxes will also apply.Given the multiple layers, I’d highly recommend your parents work with both a CPA experienced in real estate and a qualified intermediary for the 1031 if they choose that route.If you need recommendations for professionals in Illinois or California, feel free to ask!

Feel free to PM!

Feel free to reach out for more details.

I moved all of her old retirement money into a self directed IRA/Solo 401K and started putting her money to work through real estate lends.

Everyone will tell you it’s great to get started early, or you can just move after a year, but in the current environment in our region the rent your property will generate after you move out will likely be less than your mortgage, if you are tied to the area and feel confident you want to stay in whatever property you buy for 3-5 years go for it, if you want flexibility rent and throw that money into and index fund. 

If you're ever interested in seeing what's going happening on the western side of the state feel free to reach out anytime. 

I'm local and looking to see if anyone is nearby and wondering some things like how well BRRRR might work in our market (my feeling is not as well as others).Look forward to getting to know you!

My second house was under contract before it was even listed, but the combination of my GC disappearing and having to restart the permitting process for the carport in March right at the start of Corona lock downs dragged that out and eventually feel out of contract.