Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

I make around $110k+ per year, live off around $75K, have a mortgage ($1900/mo for rent, escrow, tax), around $40K in equity, and no other debt. 

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

From tax stand point I would think you can separate from primary and be okay with IRS being that IRS will not be local code enforcement.  

You'll want to put together a personal financial statement (basically lists of all your assets and liabilities) and have your tax returns ready.

I am about to graduate college in May 2025, and will be making about $120k (pre tax) in my full time job postgrad (Washington DC area).

I also wonder if some hosts only list during football season and then transition to mid-term rentals (MTRs) the rest of the year.New Tax Changes Coming in January 2025Starting January 2025, Airbnb will automatically collect and remit the 5% tourist tax for Gainesville.

How do we minimize taxes on the profit we're making on this first home?