Happy to be part of a great community. Looking to buy multifamilies in Houston

You should consult a tax professional for an answer based on your unique situation, this is not tax advise just general information.

If you are making a unique stay, you can almost 3-4x their estimate in my experience.  

Each property is estimated to create about $70,000 of profit over the next 3 years.  

It's crucial to keep your personal finances separate from your LLCs and rental properties, and I strongly advise creating an LLC for each property that you work on.

Quote from @Jay Hinrichs: one  way i know to replace 350k a year with 750k is to build new construction and sell it.we pretty much double our money COC with new builds within 12 months.So you pay cash for the lot  get a construction loan and the hard part is going to be a GC you know and trust.. sell the house double your cash on cash or better.. pay your tax and keep going.Or invest with a developer and do value add by creating building lots those are easy to 2X or better more risk though.

Given the complexity and IRS risks, consult a 1031 exchange specialist to ensure compliance.This post does not create a CPA-Client relationship.

The winners in this business don’t wait for perfect conditions—they create them.

Part of that is team, part is systems that create efficiency, and part is advances in technology that allow me to do things I could only dream of 30 years ago.

You should create a presentation to demonstrate how you intend to use their money and what they can expect in return.