There are multiple billions of dollars traded every day.

One would be nuts to value this on a CAP basis.

So purchasing larger and larger properties allows investors like Benjamin to purchase more depreciable basis while continuing to defer and recapture.  

However, refinancing doesn’t reset the cost basis for depreciation purposes.Depreciation Recapture: Transferring the property to an LLC and later selling could trigger depreciation recapture taxes.

I have read many books and listen to audiobooks and podcasts everyday so I’m learning more everyday.

I think every day but Sunday there is a meetup somewhere in the Dallas area.What do you think your first strategy will be?

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

Eventually I had problems with Regions getting wires out on a timely basis.

Since 1031 is tax deferral, I assume the gain is calculated with the likely substantially lower basis from the pre 1031 property acquisition + additional cost over the years.And yes, recapture all depreciation ( on both prop before and after 1031) make sense.

But it is not an easy home to fill given the rental rate is above average for the neighborhood (but well below average on a $ per sq ft basis).