It’s a bit of a tangled web, but if you need more info on it, do your research first, and then you can contact me to help you sort out the current rules. 3) The tax benefits are severely hampered if you there is any money from your original property that doesn’t get spent on the replacement property, so it’s best to purchase a more expensive one to avoid losing those benefits.4) It is imperative that you do not receive any money directly from the sale of the original investment property.

Let me know if you have any advice for organizing expenses and projects to stay up to date on the health of the property. 

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

May be expensive but they are dedicated to private lender law, securities law and creditors' rights.

Income reserves in excess of 6 months living expenses, no consumer debts, leveraged mortgages with no payment coming out of pocket.

There's a sucker born every minute.The best way to build wealth is to increase earnings, reduce expenses, save, and invest wisely.

Lets say you get it for 205k but the rents will only support less than half of the expenses or overhead?

In many of the C-class neighborhoods, rental rates are exceeding the expenses for investors.As of April 2024, the median price of a home in Ohio was $238,700, which is a 4.7% increase from April 2023.

What you want to steer clear of is the design firms types that will tell you that not only will it be expensive but take a ton of time.

I think your income easily justifies a common-sense, time-proven method: increase earnings, reduce expenses, save, and invest.