I totally agree with Eric, for your first deal look to something with as low risk as you can.  

Plus I always have it on hand for touch-ups since I use it in every house.

Wells Fargo initially quoted $1M value at for the house so they said $5.5K for the county tax (.05%) and $13.1K (1.28%) but a total of $18.6 in taxes but that seems really high

I currently have $150K equity in my current home and $300K cash on hand.

I attended a number every month totaling 50 plus of them over 2 years.

I have finally got them in my hands ( straight from the state of Maines website) and now realize I have no idea really what I am looking at!

Many of our clients in similar positions keep the investment and hire a property manager - that allows them a completely hands off investment, while continuing to build equity.

@Dani Beit-Or,Yes, since you're taking some profit (the primary exclusion) out that would reduce your reinvestment requirements by that much.the 1031 exchange will defer all of the remaining gain and the depreciation recapture.In your situation, you will have a total profit of around $1.5. 

You can own more than one property with your VA benefits so you want to check your total allotment.House hacking with a kid is always just a choice and dependent on the proximity of the other unit and more.

It actually creates more taxes owed total than your friend telling the truth to the IRS.