The IRS requires the same taxpayer that holds title to the relinquished property to acquire the replacement property.Here are some options moving forward:1.

How long is the hold time? 

A little about me:I hold a Certified General Appraiser license and have been working in corporate and commercial real estate for over 25 years.My recent focus has been on property investments and appraisal work, including commercial and residential properties, lease-to-own agreements, and broker price opinions (BPOs).I’m always looking for opportunities to expand my portfolio and knowledge in real estate, and I love analyzing market trends and valuations.I’m here to connect with other investors, share insights, and learn from the wealth of knowledge this community offers.

You can borrower through a reno bridge loan and then refinance into a 30 year loan if you intend to hold as a rental.

Let me summarize this for you again, I am not seeking a legal advice, I need hand holding to confirm I am reading the semantics of the deal properly !

I don't know if that's a reasonable concern or do you just plan on "X" number of months and hold it in reserves? 

If the area is desirable (with features like the pool and backyard), and the ARV holds strong, the multi-family homes may not have a huge impact.

While I am totally new to this venture, I am driven by a passion for investing and the potential it holds for creating financial freedom.

I'm hoping this leads to me avoiding a lot of those early mistakes, but we'll see how well that actually holds up.The main thing I am excited about with Bigger Pockets is hearing opinions and thoughts from a wide array of people.

My original plan was to hold it long-term as a rental.