House hacking could be a smart way to achieve both eventually!

Fix and flips and the BRRRR strategy are fantastic ways to build wealth, especially in a market like Philadelphia where there’s plenty of potential.As a property manager in the Philadelphia area, I've seen firsthand how impactful a solid property management strategy can be on maximizing returns, particularly for investors using the BRRRR method.

Working with Ron Rowan, we achieved a rewarding outcome on this well-planned investment.

Kidd is the CEO of Kina’ole Financial Services, LLC, an entity that claims to help homeowners achieve their financial goals through debt elimination and wealth acceleration.

It’s crucial for me to achieve a favorable appraisal, as my estimates place me comfortably below 80% loan-to-value.

But, if a cost-seg study is done on the old property, you can manage Sec. 1245 recapture tax by doing a study on the new property to confirm it has as much or more Sec. 1245 property.You cannot swap a fully depreciated gas station for a raw piece of land and avoid recapture - you must replace all the 1245 and 1250 property.3) OZ - Sure you can defer your capital gains for a few years into an OZ fund, but the magic of OZ investments is the ability to achieve tax-exempt growth after a 10-year holding period.

I think with Boise in particular, and the pacific Northwest in general, positive cashflow is difficult to achieve, especially for an out of state investor since the market is so competitive.Even with boots on the ground, cash flowing properties seem to be a unicorn even when purchasing for 70 cents on the dollar.One opportunity for cashflow in Boise is the ADU play -- new regulations make it more conducive and returns can be 10%+ cash on cash for a property in the right neighborhood.- Kole

And, especially if your goal is to build a portfolio to live off of, bad deals (and even marginal deals), will keep you from achieving that goal much more than slowing down and waiting for better deals to surface.But beyond that, I also find I get most burnt out when I am invested in deals emotionally and with time.  

Make sure all parties know the jurisdictions that you need permits/approvals with, and whatever duration you think it will take to achieve permits, probably add 50%.  

After refinancing we were able to achieve $628 per month.