This is a common question among real estate owners.Let's dive in:The reality is that wealthy families often pass on real estate assets from generation to generation.For example, if one generation has an RE entrepreneur who amasses $50 million worth of real estate, that portfolio can generate enough cash flow to support multiple future generations comfortably when passed on.So, what happens if that initial investor built their empire by rapidly depreciating assets and using 1031 exchanges to lower the basis and defer taxes along the way?

Does anyone know what state in the U.S offers reciprocity agreements to multiple states?

Turns out, during construction, one of our vendors flushed something down the toilet, causing a clog, which led to the system overflowing and flooding the home.We ended up having to cut and replace drywall in multiple rooms and swap out the wet carpet, which will cost us around $10K.Mishaps like this will happen in Real Estate.

House hacking is the most powerful way to get started in real estate investing, and it sets you up for success because you learn so many things: dealing with contractors, how to screen tenants, lease negotiation, but most importantly, your goal should be to reduce or eliminate your housing cost, and there are a lot of ways to do with house hacking depending on your flexibility with strategy: rent by room, Section 8, mid-term rental, STR, etc, and you can combine multiple strategies too. 

My brother has indicated on multiple occasions an interest in us buying rental properties together - he would be financial equity, I would be sweat equity.

But to touch on some of your points:-Costs to build are probably some of the highest in the nation, other than maybe Telluride or other vacation destinations. 

You will likely encounter this issue with multiple lenders in the area.

The more you know, the more prepared you’ll be.2.Find Your Strategy: Real estate offers multiple paths—flipping homes, building rental portfolios, commercial investing, etc.

From our experience managing multiple MTRs in Indianapolis, larger homes don’t appeal as much to traveling healthcare professionals.

My initial investment was fully returned during the refinance, and the sale has provided an additional return, bringing my equity multiple to over 3X.