However, me and my wife are on the fence about whether or not we should pull the trigger in pursuing this opportunity.

Here are a few considerations and potential strategies to explore:Examine the dynamics of local markets: Start by doing extensive research on the San Jose local real estate market.

We'll definitely take that into consideration when planning what we plan to do with the property.

@Pradeep VelugubantlaMany considerations, such as your preferences, investment goals, and unique circumstances, will determine which state is best for you to establish an LLC in order to engage in real estate.

The long-term benefits seem promising, but it's a considerable leap.Delay Action and Save More: Alternatively, I could pause any immediate investment, focusing on boosting my savings for a larger down payment on a more significant property next year.Your experiences, insights, and any advice you can share would be immensely valuable to me.

My question is what underlying aspects of an early 1900s property should I take into consideration?

But yes, OF COURSE the labor should always be a big consideration!

The only concern if doing quitclaim will trigger home reassessment, that will push property tax higher.Comments and suggestions are welcome. 

Personal residences or properties primarily held for personal use do not qualify for a 1031 exchange.State Tax Considerations - While 1031 exchange tax deferments are allowed under federal tax law, not all states conform to these rules.

Our duplexes come with R20 ceilings and R14 exterior walls this provides a level of insulation much higher than is standard and results in lower energy costs and is an element that can be taken into consideration in appraisal-Seek home improvements above stock plan to close the deal with your modular dealer.