I am not opposed to making this my primary method of income either.

Transcribing transactions from bank statements, posting transactions to the correct accounts, and then manually creating an income statement, statement of owner's equity and a balance sheet is a fairly time consuming process and I have not been able to keep up with the book keeping between my regular work responsibilities.What accounting software do people recommend? 

Rental Income vs.

No problem if the salary structure is the same, but if there is any sort of commission income involved, and you need that commission income to qualify for the refi then waiting could cause issues. 

It costs money to own and operate real estate which is why you need a primary source of income. 

Horton, closing 90,777 homes and capturing 13.6% of the market, followed by Lennar Corporation with 73,087 closings.

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax.

Therefore, you don't need to use a 1031 exchange; you can take as long as you wish to find and then buy another property.The only exception is if there is debt on a property, in which case there will be some UBIT (Unrelated Business Income Tax) implications.

It will be an STR with no personal use  Background: high income W2 job, no primary home (ADU on family's land property, happy twith this) so can't get umbrella policy with most insurers as they want auto and homeowners for primary home before offering umbrella  Quotes from foremost and proper.

And you'll have a solid W-2 income to help you qualify for loans.