If you genuinely think you have enough money to go ahead and buy a multifamily home, go do that.

You’ll probably get a contractor for all of these anyway, but if you can look at the problem (like a roof) and sort of figure out how it works to fix, you’re a good step ahead.

But knowing those points puts you ahead of the competition.

Now there may become issues now with paying expenses for the investment because now that you own 10% of the property in your personal name, you would be responsible personally for 10% of the expenses of that investment.From my understanding, the need for depreciation is not needed because the IRA is in a tax-sheltered vehicle already, meaning you wouldn't be taxed on the property for selling.

Be ahead of the game, grab chances that fit your investing plan, and keep eyes on your money aims.Good luck!

Here's my 5 step plan:1) Review & realign goals - Our RE portfolio is the vehicle for getting us there.

Check with a tax professional, but if you have lived in the home for 2 of the previous 5 years, you may not owe any capital gains tax, and so a 1031 is irrelevant.If you didn't you may want to wait.If you do go ahead, read about 'mortgage boot'.

Online info and webinars are great, but you have to go to meetups to workshop what you are learning with others doing the same and others ahead of you on their journey.

If, while running your numbers, the returns are within range to your criteria, do not lower the expenses to "make it work", but just know that some months may be higher, some may be lower, and if you have the cash reserves to support a higher bill or unexpected repair, then the underwriting at least helps you mentally prepare ahead of time.Any calculator, based on the inputs from any noobie or seasoned professional, will NEVER be the same as your actual numbers.

Looking ahead to 2025, our strategy would be to buy a second STR.