If not, consider a 1031 exchange when you sell to defer taxes on profits.Texas is a great market, Id hold that property for as long as you can! 

If I were in your shoes, I’d focus on house hacking in Phoenix by exploring multi-family properties or using the BRRRR strategy with undervalued single-family homes.

The property is in pretty rough shape so we're planning on renovating before renting.

Vacant properties are targets.

My goal is to achieve financial freedom through house hacking and long-term rental properties.

@Daniel GrantzRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

- I understand that properties go to auction, but what’s the process like from start to finish? 

Cincinnati and Birmingham tied for second place with a decline of 0.2%.The decline bucked a national trend where rents increased in 47 of the 50 largest metro areas in January compared to the same month last year, according to Zillow.The typical January rent in the Denver region was $1,918, a 0.8% decrease from January 2024.Multifamily rents experienced a larger decline than single-family rental properties, with Denver once again recording the largest drop in the nation at 0.5% in January, tying with Cincinnati.Read the rest of this story at the Denver Business Journal.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

The property had foundation work done just prior to the sale but continued having problems, even after I hired a second contractor to correct.