Quote from @Camille Romero: Hey everyone, I’ve been thinking about buying my first real estate property and have a few markets in mind.

As already mentioned, you could sell via seller financing to lower AGI, as all you would have to claim is the payment income - until balloon payment received.Did know an investor that had 14 properties paid off and he moved into one every two years to then sell with the $250k single exemption.

Hey Tanner, welcome to the BP community and congrats on your wedding and new journey into real estate!

Jimmy,You need to show (2) years of 1099 SE income in order to use FHA, or traditional financing to get approved for a mortgage.

@Jaedon Stout Getting into real estate is not for the faint of heart.

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

Starting out in real estate can feel overwhelming, but breaking it into clear steps makes it manageable.

It gives you access to funds at a relatively low interest rate, and you can repay it as the rental generates income.

Most of us on this forum are focused on real estate investing of one kind or another. 

Probably not enough the IRA to own real estate given reserves needed and such.