It’s a long-term game, so don’t feel rushed—take it one step at a time!

What are the best steps to take when getting started? 

Most importantly, go take action and make it happen. 

He will be taking a leave of absence for the  year.Given the unforeseen nature of his health condition we would appreciate your assistance and consideration in addressing this situation.

When your LLC takes a loan, expect as members to personally guarantee the debt.

These are good indicators of quality tenants.You can also adjust how much deposit you take as well.

The quicker you can take action on the high dollar value decsions the quicker you will be able to grow.For sure take the time to setup the right foundation, but keeping it simple and easy when you are getting going is a safe bet!

Do you have a significant other who could take out the loan?

Highlighting the strong profit potential and taking measures to address any concerns about costs, scope, or holding risks will make this an even stronger pitch.

To defer all of your gain, you'll want to trade up in value, replace all the debt (meaning new properties have at least $350,700 of debt), and not take any cash from the exchange (this is boot which = taxable gain).As for replacement property, it just has to be real property - meaning it can be commercial, STR, land, etc!