It’s all about running the numbers and seeing what gives you the most flexibility and growth potential.

We get traffic studies done to confirm that the roads can handle the potential traffic.

Potentially YES!!!

Are there any strategies, tips, or potential pitfalls I should be aware of as I explore this market?

I saw the potential to cash flow when the opportunity presented itself I jumped on it.

There are going to be potential issues with tenants anywhere.

Some of your requests may fall outside this manager’s standard practices, and customizing services for each client isn’t practical for most PMs.

However, purchasing the replacement property from an estate where your mother-in-law is the executor and other heirs are your wife's aunts and cousins raises potential related-party concerns under Section 1031(f).The IRS generally prohibits 1031 exchanges between related parties unless both the buyer and seller hold their respective properties for at least two years after the exchange.To stay compliant and avoid disqualification, ensure:The estate sells the property directly before any distributions to heirs.You hold the replacement property for at least two years.The transaction is conducted at fair market value with no prearranged agreements.Given the IRS scrutiny of related-party 1031 exchanges, consult a qualified CPA or 1031 exchange accommodator to structure the deal properly and avoid potential capital gains tax liabilities.This post does not create a CPA-Client relationship.

Several factors indicate the company is not that concerned about efficiency or ease of customer process: the website, a process that seemed to focus on one issue at a time instead of all issues at once, and consistently poor communications and lack of common sense from the loan analyst we were assigned.It started off very well with the initial point of contact, Austin Lornson, who did a fine job of explaining the general refinancing process, responding quickly and thoroughly to our questions.

There is also potential for an ADU in the large backyard, but I will buy another rental property before moving forward with an ADU plan.