If the latter is chosen, the federal, state, and local governments get their pay day, and that pay day is much larger (if a 1031 exchange had been used) than the cumulative paydays that they would have seen had they taxed the investment vehicle from day 1 on every sale/repurchase of property, because the tax deferment program allows for larger and larger investments over time.

Regardless of approach, how did you arrive at your chosen relationship with debt (or lack-thereof) and what major points did you consider when arriving there?

They then said "hold my beer" and applied some "rate" to their chosen "net operating income" and like magic they arrived at a value.

and a number of owner occupied, low-down-payment low-interest loans on great real estate, in carefully chosen areas, occupied by tenants.

You've chosen a noble profession in nursing, so I'm not sure if you want to start a business while pursuing nursing -- that is a personal preference.

Originally posted by @Ryan Ruiz: I worked it like this; 1 cable modem to a chosen apartment, lines run to each other apartment with a wifi router.

I would not have chosen a Section 8 tenant, but this tenant has apparently paid consistently for 3 years.

That is an area where people have willful ignorance because the facts don’t back up their chosen party.