You can deduct real estate losses against W-2 income provided your modified adjusted gross income (MAGI) is under $150,000.

Does this have relevance to a SFR and 2-4 unit strategy or just more systems-intensive MF, office and industrial assets?  

Then you can reinvest w/no 1031 stress.The step-up in basis provision adjusts the value, or “cost basis,” of an inherited asset (stocks, bonds, real estate, etc.) when it is passed on, after death.

It's a tough adjustment. 

-I have opened a claim with my insurance company, the adjuster has not inspected the property yet.Any advice?

You can adjust this mindset of course as you get more experienced in it years later, but try to ignore the tax benefits as you're first starting out.

I then can create pivot tables to look at my spending and adjust accordingly.

All I did was look at a property, run the comps, and got a reno budget, So nothing to intense.

While there were challenges, such as adjusting to the nonrefundable deposit requirement as a percentage of the purchase price, I remained steadfast in my vision.

So location and type can be adjusted for whatever the market is speaking to you.And, from the perspective of developing your real estate career, the knowledge of the power of a 1031 exchange that you have can be a huge marketing advantage for you when seeking listings.