That leaves you with a good chunk of change to start the business and grow from that point with rental income/passive income coming in each month.If you have any specific questions and want to talk about Pinellas, Citrus or Hillsborough reach out I always enjoy talkng REI.

It seems the goal is to hold for 10 years, then sell and profit on the back end without capital gains tax.

I have bought and sold a few houses but first time doing a 1031 since saving on cap gains makes sense.

About 5 years ago.(3) final interest gained when joint tenant passed leaving me as sole owner.

So the question is, does your rental activity qualify as a trade or business or just a passive investment? 

If married, that would be a $1.5 million writeoff against your overall gains.  

Unfortunately, I now live in Japan and it seems like selling the HI property will attract Japan capital gains tax, regardless of US 1031 exchange rules. 

What do you mean by passive investing in multi family?  

Investing in a syndication is good if you want to be purely passive.

As a Project Manager, when diving into a new initiative, I'd sit down with a project charter with our VP, and ask questions to gain a full understanding of the expectations of a project.