I also volunteer my time as a board member of the RPA (Rental Property Association of Wisconsin), a non-profit REIA and we focus on education, landlord-tenant law and lobbying on behalf of landlords in Madison.Networking is important especially in the beginning, because it gives you confidence to see other people's success when you are getting started.

Or, in two years, you can sell your first home, cash in for a profit of $16,800, and pull back your $30k.

My question is “Should we throw it on the market and net around $50k in profit or hold?”

We could do a traditional long term rental, but I’m curious if there’s a market for 30 day rentals in general (also asking around Austin), and if it could be more profitable potentially than a trad LTR.It’s a very unique property.

I am worried not only about escalating costs but also about diminishing profit margins due to delays in obtaining permits.

My journey in real estate has been driven by a passion for helping people achieve their property goals, whether it's finding the perfect home, making profitable investments, or connecting buyers and sellers for mutual success.I'm eager to network with fellow professionals who share the same enthusiasm for real estate and dedication to making a positive impact.

The profit is made when you buy.

Benefit: No capital gains tax on profit up to the exclusion amount.1031 Exchange: Deferral of Capital Gains Tax on Investment Properties What it is: Defers capital gains tax when selling an investment property if you buy another investment property. 

So the ARV is $660K and the report gives me maximum offer of $21K for $0 profit.

The realtor tried to talk me up to at least 175 but… that’s cutting a bit into my profit margin and I’m not that eager to buy it because that’d also be my biggest renovation project.