I assume if the QI is holding the note, this belongs to the taxpayer engaging in a 1031 exchange? 

With a HH, you learn how to analyze properties & markets, how to find an investor-friendly agent, how to spot value-add opportunities at properties, how to engage in a strong due diligence process, how to screen tenants, how to create a strong lease, how to manage the property, how to build a network of contractors, plumbers, electricians and other pros, how to manage the book keeping of the property, etc., etc., etc.

I don't think I've seen a single issue go unresolved.I have been here since 2017 and recently started engaging more as I became a more well rounded professional. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Therefore, I figured I would come here to engage with professionals who actually do have a good amount of experience and/or success/failures in this area for any guidance, advice, etc. 

Remember, partner, knowledge is power, so keep learning, researching, and engaging with seasoned professionals in the industry.

For you personally with 2 rentals and w-2 income I would go ask the 100 questions you might have before you engage a CPA. 

There are also lots of great videos and information on how to underwrite these deals.

And my wife does a lot of YouTube videos and has used a tool that picks her cover photo.

However, I don't want to put in an offer until I at least see a video of it.