Quote from @Gregory Wilson:As for the second, there are only about 20 monetary numbers to be entered in Turbo Tax on a single unit rental property 1065 so it always seems to me that the $3500 would be better spent elsewhere.

Most people don’t want to sell a property and walk with zero dollars.

Here’s a step-by-step approach:Market Research in Real-TimeGo to Airbnb, enter your available dates, and filter for similar properties in your area.

I've primarily worked with single-family residential properties in Albuquerque.

If you want to acquire more real estate I suggest more savings or sell the other property with equity. 

Where do you think a rehab is more likely to net the better sweat appreciation the high property value market or the low property value market?  

Congrats on taking action to get this first property under your belt. 

I only have 1 property under my belt and am currently house hacking my SFH.

Note - if you live in your property for 2 years out of the last 5, then you don’t pay taxes on the profit. 

I've got a property under contractPurchase price $78K out the door (I have cash to close) Intent: build on the property which already has a functioning well, septic, and needs PGE installed Total buildout on the property utilities: $128K including the original land purchase price.