That's wonderful.Your state requires 72 hours of Real Estate education. 

Are we required to pay FICA tax on the deferred income? 

I was told the reserves are a requirement of the REIT loan that we have.

You’ll need to pay MLS dues for access to MLS which in some areas requires NAR/ board of Realtors membership (~$2,000/yr in my market).

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing.

Hi Ryan, There are many DSCR lenders that do not have a minimum ratio requirement to get a higher LTV.

For example, places like Illinois and Oklahoma have specific rules requiring a real estate license for certain types of marketing.This specifically for flipping land using Transactional Funding.If you’ve done this before, what states have you found to be friendly toward this approach?

Short-term rentals of non-owner-occupied properties will also require a special use variance which is obtainable by starting with the completion of an application in the Zoning Department."

If you eventually convert the property to your primary residence and later sell it, the taxes would be prorated based on the ratio of time the property was investment property.These items should be addressed and discussed with your tax and legal counsel to ensure that the exchange is the best course of action given the restrictions and requirements.