However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

What worked for me was focusing on building strategic relationships with top tier people (quality partners) who could complement what I brought to the table—sales, management, and execution.When you are approaching sellers for creative financing, leading with a clear value proposition (and CONFIDENTLY) is key.

I personally find that half the battle is just getting myself to write down & track progress

Even if these relationships don't go anywhere, you'll get a lot from just having a couple of calls.Next I would try to find some local investment groups/communities and try to chat with as many investors as you can to get an idea how other's started out in your market.

This approach balances tax efficiency, financing goals, and family considerations effectively.This post does not create a CPA-Client relationship.

While OZ investments offer significant tax benefits, assess property risks and long-term potential beyond the tax savings.This post does not create a CPA-Client relationship.

I am trying to find a mentor and have a relationship that I think will work out well.

You take your share of distributions if/when there is money to share.And then I go back to the person with money.

Also helping was a relationship with that bank (deposit accounts) and good credit. 

Personally, I've been in this niche since 2007.