However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

I’m currently a student and just requested a full refund.

When a Class A apartment can be had for the same price as a Class B/C renovated unit, the B/C operator drops prices, and so on.But, in terms of making an investment decision, I think it is short sighted to rely purely on full market average data.  

Use tools like AirDNA to research how often properties are booked and consider seasonality so you can take full advantage of peak times.

Asking for an LE, Full Pre- Approval and multiple estimates, just to not work with them is a waste of time.

Policymakers, government officials, and business leaders can leverage this analysis to craft targeted strategies for fostering sustainable growth in the metros that drive America’s economy.Read the FULL STORY HERE

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.

Front two units are full time STRs with a rear studio operating full time MTR. 

We’ve got one big player that probably has at least 600 units with their own rental office and full time maintenance crew.

Just hire a full time lifeguard .