- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.

I have been following the Real Estate Investing industry for a while and just recently decided to put my focus into it and implement a plan I had in mind for years.So I went down to Puerto Vallarta I put together a team of local realtors, brokers, contractors, property managers and a lawyer. 

@Lina TruongStarting with mid-term rentals (MTRs) can feel daunting, but breaking it into steps makes it manageable.

Because you live on the property, management will be easier.

The one's I prefer handle everything in house, from purchasing the home, renovating it, renting it, then selling to an investor then managing for them on the back end.

I served as the buyer's agent and property manager for my clients under Blue Chariot Realty & Management.

They go through a management company, M.

It also includes managing your existing investment well to ensure you aren't bleeding money due to bad tenants, excess maintenance, etc. 

As someone who occasionally works with these investors, I always try to emphasize the challenges that come with real estate like managing renovations, dealing with tenants, and navigating market fluctuations.

Next question.... will you self-manage it, or turn it over to a professional management company, or some type of hybrid?