That leaves $400 to cover taxes, maintenance, vacancies, etc.Now, let's pretend ALL your expenses come to $2,600 and you have $400 left over.

Meanwhile, your expenses, like debt service, taxes, insurance, and maintenance, continue.These are the requirements necessary to attain and maintain financial independence.

If 1031 is to be implemented it must be done on the property level.2. 1031 generally does not apply to IRAs since they are tax-exempt. 3.

other posters have started threads saying they're going to buy STRs for tax savings... and this doesn't make sense to me.  

You get to harvest the equity tax free.

A lot of forum members are experts in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, buy and hold investing, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, the Bigger Pockets blog features links to their fantastic podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

From a tax perspective, you'll want to take what you paid for the property plus calculate the improvements you made to the property during your time of ownership.

It is your first year when you get the major tax savings windfall due to cost segregation and bonus depreciation.

We pay payroll taxes and workers comp, we comply with state and federal laws regarding work place safety, PTO, vacation, labor laws et al.

Since you are renting out part of your primary residence in Maryland, your main concerns should be liability protection and tax compliance rather than complex asset structures.