Tampa can work, but yes, taxes and insurance are higher and might keep cash flow tight.

No personal income or tax returns are required.

And of course, take advantage of the tax benefits along side my current business income.Viability of the idea?

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

You could look into forming a C Corp as an alternative way to own this property that could affect your tax returns differently, I am not a CPA or giving tax advise.

I currently have a pre-tax retirement account with employer match and a Roth IRA invested in the stock market.

These logs regularly end up in the Tax Court and are usually destroyed upon review.

The property tax savings are going to be in the ball park of 40-60%, but to be safe you should double your expected repairs budget when calculating the NOI.If you have any other questions, or want a more in-depth response, I would love to help!

Quote from @Michael Overall: Good day, If an investor has 10 rentals and wanted to over time sell them and put the money tax free from a 1031 toward a large purchase is there a process to do that?