My plan is to move out in two years after I qualify for the possible capital gain tax exclusion so then I can either decide to keep it for 3 additional years (or maybe longer, and forgo the exclusion)and move the home into a LLC.

Before it was a job where as now I am focused on passive income.Excited to learn and connect with you all!

A 1031 Exchange only defers the capital gains tax.

There is a legal doctrine known as "adverse possession" by which trespassers who openly inhabit and improve a piece of property that is otherwise abandoned may gain title to that property after some specific conditions are met.

Ask the questions...Maybe they want to avoid cap gains taxes so a small down would work.

I'm leaning towards long-term rentals (LTR) but am also eager to dive into fix-and-flip projects to generate quick capital.I'm deeply committed to achieving financial freedom through passive income, and I believe real estate is the perfect avenue to reach this goal.

By leasing out the detailing “bay” to a third party detailing business you are still a “passive” investor as you are not operating the detailing with employees.  

Regular market analysis and strategic selling of underperforming assets while the market is strong can allow you to reinvest in higher-performing assets or hold cash for future opportunities.Leveraging built equity through equity partnerships or private lending can generate passive income while keeping your capital relatively liquid.

The K1 could show you have ordinary income, deductions, capital gains etc depending on what the investment opportunity was and how they managed and exited the investment vehicle.

This is a general statement (dont mean everyone), my experience with many agents are that they're quite 'passive'.