This is a new venture that I'm looking into and real excited about. 

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

Ok as real estate focused accountant perhaps I'm biased.

Also, if your wife and her parents were the real estate investors first, why aren't they weighing in? 

So if you started today you would probably be looking at 2026 before it was completed if I had to hazard a guess.Can you clarify how much you plan to invest in real estate?  

I prepare an extensive number of tax returns.A big niche of my clientele is made up of real estate investors.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

All in all, this is exactly why you connect and establish a business relationship with an experienced investor-focused real estate agent who will shoot you straight. 

It is important to remember that a solid agent is not just opening doors for you, their biggest value would be in the negotiations and right now, buyers have a real advantage if one knows how to go about it.

The additions are usually small.Buy focusing on real high value places, you are putting yourself in a narrower guest pool.