Of course when doing the 1031 exchange your basis will carry forward into your replacement property.Where you have a potential issue is establishing your intent to hold those properties but immediately selling one or more them as soon as you have them ready. 

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

Often established sellers go with seasoned listing brokers.

In some states, such as mine, you can do one assignment per year without a real estate license otherwise, you will be fined $25K per transaction. 2.

Lower Repair CostsHiring licensed contractors for minor fixes can be costly.

Not every STR has to be a 4 Seasons and even those I've waited on service before and it's not like someone was breathing down their neck waiting to revoke their hotel license when it happened. 

After reviewing your application, we’ve determined that, unfortunately, we are unable to move forward with your application at this time, as it does not meet our established criteria for income and (other established criteria) We appreciate the time you took to apply and wish you the best of luck in your continued search for a home. 

If I go to the supply house, where I am allowed to purchase given my GC license, and I order all the materials.

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

Knowing your long-term plans can help you build a long-term financing strategy so that you are not just worried about purchase number 4, but also purchases 5 - 20+ (if you plan to continue to invest).I'm an investor and licensed mortgage broker.