**Future plans**: After a few years, we aim to put a down payment on a piece of land and move the mobile home there.Our goals are to build equity in our current house while working towards owning a nice piece of land and maybe eventually building a nice house on it.

If you had to give one piece of advice to new investors, what would it be?

For instance, Choose Chicago (I used to work for them) is the marketing arm for the city and they drive huge pieces of business that will drive hundreds of people into downtown selling out all the hotels and driving prices crazy high.

They are the boots on the ground, the most important piece of the entire operation. 

It will just be important to identify the new property and make sure you stay compliant with 1031 exchange guidelines.If you have any questions on the tax piece or need any help analyzing the numbers, feel free to reach out.

In a time of rapid appreciation or a bull market this is where that 6 month piece can come in handy.

Hey BP community, I have been under contract for a while on a piece of property out in GA.

All I found about mobile homes is this little piece on page 13 of this document saying they are “residential rental property.” https://www.irs.gov/pub/irs-pdf/p527.pdf  

That's an important distinction worth noting. 

What's one piece of advice you would give to your 20 year old self about Real Estate?