Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.

At the same time, my market appreciates well so I gain significant value by holding on for the long-term.

Over time, rents may increase, improving your cash flow, and you’ll gain equity and valuable experience managing tenants and property operations.

If you’re selling and you’re going to buy another rental no matter what, if you probably do a 1031 unless you have almost no capital gain or depreciation capture.

My personal experience after 40 + years in the real estate industry is that “wholesaling” is a very INEFFICIENT AND INEFFECTIVE way to gain knowledge and experience relative to real estate.

We lived in the property for 2 years and rented for 2 years to tenants, so by selling now, we ensured that we could avoid capital gains taxes.

Were you just looking to gain your time back?

You’d also make all future capital gains at least partially taxable instead of tax exempt by converting your primary to a rental.

But once they give it to you, you inherit their cost basis and have a taxable gain.

While I haven’t chosen a specific niche yet, I’m leaning toward purchasing a multi-unit apartment where my 20-year-old son could live and help manage while we rent out the other units—essentially a form of house-hacking.So far, I’ve connected with a few real estate agents and gained MLS access, which has been a great starting point.