A 1031 exchange allows you to defer taxes by exchanging real property held for productive use in a trade or business or for investment for other real property of like kind, which is also to be held for similar purposes.

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

For a new investor, advising what forms to complete and how to complete them can be essential.

Conventional mortgage product? 

Most of them that are successful like a Tony Robbins etc they make HUGE Money Millions upon Millions with their training and backing certain products..

The differences between most software is subtle and may be how they bill for their service, support their product, or the process to use those features.

So, like all social media and mass production sites, it's not truly there to help the consumer, it's there to make money off consumers using the agents they partner with.

When we prepared the lease agreement, we were very explicit and essentially wrote it as a triple net.

STRs are essentially small hotels, thus they are usually taxed similarly to what hotels and motels are.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.