If you've enjoyed a lot of appreciation in the value of your primary home, you may want to start a timer to sell before losing the "lived in the house for 2 of the last 5 years" capital gains exemption (limited; not infinite, but big).  

This can lead to more opportunities and partnerships.Market Understanding: As a property manager, you'll gain a deeper understanding of the local market, which can be invaluable when you start acquiring your own properties.Steady Income Stream: Property management can provide a consistent income, which can be particularly beneficial in the early stages of your real estate venture.Skill Development: You'll develop a range of skills from customer service to maintenance oversight, which are crucial for successful property ownership.Brand Recognition: Establishing a presence as a reliable property management company can boost your reputation, making it easier to attract tenants and investors when you start acquiring properties.Cons:Time Commitment: Property management can be time-consuming, especially if you're dealing with multiple properties or demanding clients.Regulatory Compliance: Staying compliant with local laws and regulations requires diligence and can be complex.Conflict Resolution: Dealing with tenant issues and conflicts is an inevitable part of property management and can sometimes be challenging.Financial Risk: There are financial risks involved, including late payments or damage to properties.Market Fluctuations: The property market can be unpredictable, affecting both rental income and property values.Overall, starting with a property management company can be a smart way to enter the real estate space, especially in an area with a clear need for such services.

Great insights!

If your primary has a net $1M appreciation you’ll only pay $100k cap gains tax - that’s a lower alternative than what you propose.

I’d love to hear about your experiences or any creative suggestions you might have for overcoming these obstacles.Thanks in advance for your insights!

They are going to be the cheaper alternative for SFR, so in theory you should get some decent appreciation gain and good tenant pool.3.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

I am looking for insights from anyone who has recently upgraded their electric service in Chicago.

I appreciate your insight on this as, like you said, this is a little bit of a complicated situation.