I recognize I have benefitted greatly by my market’s appreciation.  5.82%/year for this century, 8.29%/year for the last 10 years, 10.31% over the last year.  

😊), and I recognize that you bring a lot of value to the forum.

In California I've bought mostly older homes but I recognize theere's some risk to that.

Try to interview a few before you decide.

The remaining rent ($1,634) is recognized as rental income.

@Toby FellowsYou are correct, you need to ‘hang’ your license under a broker in order to practice real estate, and most brokerages require you to become a member of the National Association of Realtors as well.While you are preparing and taking your courses, contact several brokers and interview them to find out who might be a good fit.

But not necessarily purchased below market value”market value”.Look, some of the “best” (most profitable) property I bought were purchased at market price - value, because the market didn’t recognize the value I was able to see, or didn’t have the information I had.  

This is a two-way interview, so have a short list of questions to ask the mentor (What books do you recommend I read to gain a better understanding?

I recognize that one can not take a passive loss if their income is over 150k; however, from what I have read, it states that if you dispose of/sell your rental that you can deduct the passive losses the year you sell.

Choosing the wrong 1031 Exchange Qualified Intermediary to administer your 1031 Exchange could be a very expensive mistake due to the Qualified Intermediary's critical fiduciary responsibilities and obligations through out your 1031 Exchange transaction.You may focus all too often on issues such as size of the Qualified Intermediary, 1031 Exchange fees, interest rates paid, turn around times, branch office locations, and the like, when interviewing potential 1031 Exchange Qualified Intermediaries.