Etc.My primary partner, Jason, and I were partners for six or seven years.

But the manager's unit is really a 3000 sqft / 4 br / 2.5 ba SFR, and we live there as our primary residence. 

I would recommend that you start with buying a primary residence using a low down payment loan, like a 5% down conventional loan, live in it for a year or two and then keep it as a rental when you go and buy your next primary residence using another 5% down conventional loan.

However, if you provide substantial services—like managing short-term rentals similar to a hotel—then income could be classified as earned income and subject to SE tax.The primary benefit of REPS is the ability to deduct real estate losses against W-2 or other active income, reducing taxable income significantly.

In your situation, the primary concern is the potential tax impact from depreciation recapture, rather than capital gains.

Keep in mind if you buy another primary residence, you'd have better rates, terms and can pay as little as 5% down for multi family up to 4 units.

This is why househacking is so powerful when youre getting started - for primary residence loans, 3-5% down is very normal.

I am pretty sure you can not do a 1031 and use the proceeds to do anything to a primary residence.

With $200K-$250K, you can secure high-quality rental properties in both cities while benefiting from steady appreciation, strong rental demand, and landlord-friendly laws.Oklahoma City has a rapidly growing economy, with major industries like aerospace, energy, healthcare, and tech fueling job growth.

That home was in Milpitas CA.. probably worth about 1 mil today.. but I lived there 2 years sold it made over 50k and I was off to the races.. primary home equity as I look back 50 years of ownership and multiple homes has made me well over 2.5 million in tax free gains.