The house includes high-end upgrades such as custom cabinetry, granite countertops and energy efficient appliances.

It has very favorable zoning laws, the land is buildable, and the area has a housing shortage.

Stock picking is gambling pure and simple. 

You have to understand the market, neighborhoods, numbers, and realize the risks involved buying houses "sight-unseen".

One of the developers I work close with is getting ready to build 4 spec houses.

Thanks everyone.Annual T4 income: 250K380K in liquid investments.Principle property est. valued at 670K with 250k left owing and 155K heloc attached.Rental 1: purchased 2021 for 220K current est. value at 270K was a house hack with 5% down and $1600 monthly rental income.Rental 2: purchased 2022 for 280K 20% down current est. value 345K rental is $2000 monthly Rental 3: purchased 2023 for 267K with 20% current est value 310K rents for 2100 a month.

==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?

How big is the house?

The one negative is with multiple tenants in a house is potential for conflict among each other but could be reduced by screening all of them well. 

As a licensed realtor, I have some buyer clients looking to buy a house in New York state.