To get things done as quick as possible , charging by the hour cost the contractor money , charging by the push/inch  is the most profitable way to do snow . 

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

If you’re not able to, then it may be better to sell the condo, take the profit (if you have some equity in the condo) and put it into a multi-unit to househack again.

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

Like @Kyle Mccaw noted there is significant value in goodwill and I imagine you profited nicely over this pleasant long term relationship. 

Lower costs mean better profits and fewer financing headaches, plus taxes and expenses are much lower than in places like Florida and NYC.

I definitely thought it was a scam but it was legit and easily one of my most profitable 1 night stays away from a pure revenue stand point.

I would like to see if I can make a small profit, and I want diversification with maybe a 4 plex, or multiple SFH/Condos.

@Jay Hinrichs exactly the risk is even more than traditional development and the profit is actually less with more operational headaches.

Not wanting to sound like an attorney, but companies like the teaser because they are on firm legal ground: so long as company clearly tell consumer prior to purchase when they must cancel by [knowing statistically enough will not comply in time to make the teaser marketing profitable] be it rebates on computer software that many folks will fail to mail in, or real estate CD w/â€mentoring†or whatever that some unfortunate folks will not timely cancel, or Chrysler minivans forget to return….Legrand was very ethical each time I or my partners have tried his teasers [no Mr.