Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

I used to live in the city and the taxes and water bills are nightmares.

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.

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.

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

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.

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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.