I, like many of my colleagues tend to opt for the more conservative approach when analyzing tax legislation/litigation.

They prefer a consistent return based on a 20-30 year triple net lease with income jumps every 5 years.Yes, for investors who want RE speculation with little to no current tax sheltered cash flow your model would be preferred.On the other hand , a safer passive investment approach emphasizing cash flow and cost segregation tax saving benefits that don t fluctuate, makes investors happy by getting a 100% ROI after 3 years.

Yeah this approach can work with rentals in the 1% range.

Essentially, should we take this step-by-step approach rather than jumping straight into being landlords?

(Healthy body healthy mind)I'm an agent and Property Manager in the Pocono Mountains area.

Take your Home Flipping due diligence approach and apply it to this model. 

Good luck in April, it's quickly approaching and would love to hear how you do!

And an attorney with limited 1031 experience is only going to be reading the text book one step ahead of you.I would recommend a goldilocks approach. 

This could greatly change project approach for your PM.

With the cash flow play you need to buy low, negotiate hard on price, expect no appreciation and get a very healthy cash flow, nothing marginal,  And expect when you sell to make little to no appreciation, then any gains are icing on the cake.