However the older generation that lived through the 80s really like that arcade cabinet and they are the ones paying for the trip. 😉 

First, congratulations on purchasing your first property together.

If purchasing new real estate as part of your reinvestment, a cost segregation study can maximize depreciation deductions, offsetting future taxable income.For effective planning, assess how the sale price is allocated between real estate, tangible assets, and goodwill, as this determines the tax treatment.

If there isn’t significant equity capture at this purchase price, and it’s not in a great location, this would be a pass for me.

However, achieving success in this space requires more than purchasing property—it takes strategy.

I've personally found the bulk of my Chicago purchases off the MLS.

Therefore you have to rely on contract, if its a new build, make sure its in the Purchase Agreement.Why?

We've never used percentage-based criteria, like the 70% Rule, for purchases.

I just purchased my first duplex (only SFHs in my portfolio so far) and it doesn't have the gas/water split.

Most of our loans are fully amortized and those that aren't, are 10 year balloons where we'll have more than 50% equity (at the purchase price) upon loan maturity in 2030+.