Secondly, you'll definitely want to confirm with a tax strategist with experience in the STR space to confirm if the setup you describe will pass as an STR with the IRS. 

@Kegan Scholl definitely connect with @Jackson Harris and dive into the AZ market if you have not already!

Definitely on market.2) This is such a tough question to answer, but I think it might be something along the lines of don't overleverage.

There is definitely more too it than just the money that goes in.

It’s definitely exciting to see suburban Chicago getting recognition as a hot rental market—it’s something I’ve noticed in my own experience as well.

Definitely checking out all my options. 

And while a 1031 exchange isn’t an option, some people explore alternatives like installment sales to spread out taxes or even tweaking the investment structure so your returns are treated as interest instead of equity.There are definitely some creative strategies out there. 

In memphis rehabs and rentals are definitely a thing. 

Hi Daniel, I would definitely keep your options open in terms of finding the right accountant that could be of great assistance. 

If one has high living expenses, cash flow doesn't mean much and I definitely understand going for appreciation first.