Perhaps this will categorize me as a "hater" but if I inherit 500,000 don't be surprised or celebrate the fact that I will buy 100 units in the next 18 months. 

Here's what i do....and this may be a bit controversial....but here it is....When they initially call me I do not pick up the phone....I want them to leave a voice message and if they sound like they have some sense, then i will return the call....if not....then I don't.

Celebrate the breakthrough and then focus on ensuring the cashflow comes from this investment and prepare for the next Investment.  

But no time to celebrate I must push even harder now for that next call back.

Even so, the bottom line on Schedule E will often be zero, because the rental income will often be fully offset by deductible expenses.Step 6: Write off the personal-use percentage of mortgage interest and property taxes as itemized deductions on Schedule A of Form 1040, subject to the new Tax Cuts and Jobs Act of 2017 (TCJA) limits for 2018-2025 (see “TCJA changes affecting vacation-home owners” below).You are allowed to carry over any disallowed allocable indirect expenses to future years when you can deduct them against rental profits (if you ever have any).Controversy regarding how to allocate mortgage interest and property taxes The IRS says you should use only actual days of personal and rental usage to allocate all non-direct vacation-home expenses, including mortgage interest and property taxes.

without the QI and proper documentation in place you can't do a 1031 this time around.So pay a little tax, Celebrate being smarter than Hollywood. 

Unless you are a famous celebrity or have a bad reputation of course.Also note, properties aren't re-titled, they are transferred from one party to the next.

Mostly worthless lots sold by a celebrity spokesperson.....  

we got moved into the Urban reserve ( currently non buildable farm land) celebration time.. then the thousand FIENDS of Oregon went to the state and through back room politics they redrew the line and now we are out of the reserves and probably have to wait till about 2035 to come in.. 

I was only 17 so...celebrating my newly-acquired driver's license and shopping for prom dresses.