That said, if you can gain some basic knowledge and take away a few good nuggets from a course as a newbie, then it could be a good starting point (of course the best starting point is doing what you are doing here, engaging the BP community).

Also, the rental was 1031, so I would have to pay taxes and cap gains right?

A long-term hold in those locations will net you great profits decades later. so much so that you'll be able to extract the equity when you need it and not be worried too much about the capital gains because the gains are so great.

Upon selling it you exchange to a like property to defer the long term capital gain.

@Alex Kohler   I just wanted to note for people that facebook marketplace doesn't allow a second attached profile to access marketplace.

I'm now taking out cash and funding the rest of the fix up, as well as going to gain significant cash flow.

I was interested in this topic as well, hopefully we can gain some insight to this.I'm wondering if you're able to achieve anything that would cash-flow as oppose to an appreciation/break even cottage play considering the short length of the rental season. 

We always do a 15-business-day inspection period and advise the seller that we will need access to the property, which usually takes 2 to 3 days to get our financial partners and contractors to the site.

I plan to sell quite a bit of stock this year (2024) in order to fund some renovations and want to use the depreciation of these properties (if possible) to offset my capital gains when i sell the stock.

I'm from CA and I decided to get started out of state (IN and OK) where pricing was more accessible.