The best thing is to get a really good grasp on what your gain situation is and then you can plug in scenarios to see where you'd be at tax wise with each level of replacement.

Sounds as if you have a solid grasp as to your purpose for wanting to get into the REI world.  

I need to sit down with the lender and get a better grasp on the refinance process.

I don't have many juicy inside details but i definitely have a good grasp on many different areas in and around OKC.

The home is located in New London CT and I am not going to submit an offer until I have a better grasp of real estate investing.

I actually had a very good offer in Chicago at the end of last year, but turned it down, call me a dreamer but I don't think the insanely good amount of technological wisdom that can be grasped in the silicon valley can be replicated anywhere else, so my plan was to stay here for at least 4/5 years (or, at least, until I remain single so that I can rent a little place) and then considering a move.So, passive rental income would still be my dream for a few years :)

Two reasons: Now there will be nothing holding you back from submitting an offer when the time comes and you will have a better grasp on where you are looking to be from a purchase price standpoint once you talk things over and run numbers with a lender.2.

But the Internet, mobile devices, wearable devices give us housing services providers NEW opportunities to make up to 10x and beyond the traditional NOI.It's OK to let go of old landlord expectations... and grasp new business concepts.

I REALLY want to be able to start flipping as soon as I'm able to but as of now I have to live wherever I purchase and the only flippable houses in my grasp are ********s in two categories: death traps or cat piss hole in the grounds. 

I do feel it is great for all investors to at least have some grasp on these subjects.