Consider the "2 of the last 5 year rule" to avoid capital gains.

Are you well capitalized and able to go 6+ months without making a dollar?

You're merely proving my point that you have no business raising outside capital to invest in real estate. 

I had clients in PHX  and Vegas that lost their 4 plex's because they went 100% vacant and stayed that way.. they owned 4 or 5 of them.. it only took about 3 months of negative cash flow and they were done.Max leverage loss tenants  lose property.. that's the formula..  

VERY unlikely unless you either source an off-market property yourself or you find a unicorn deal (our last semi-BRRRR was a B-neighborhood property we sourced from an out of town wholesaler in late 2023, but couldn't get all our capital back out on refi).  

@Lincoln Waite Here is a great example of over complicating things into a net loss. 

Hi Melanie, I both own and manage in the area and to be honest, the market in Kissimmee/Davenport is tough right now unless you're willing to invest a lot of capital into high end theming. 

You can also look into partnering up with an experienced investor, and sourcing the deals or providing the capital in exchange for the mentorship. 

The gain takes a few years to realize but it is a way to scale when your own capital is low. 

I have a W-2 Job, capital saved up for a down payment (or two), and a buy box based on my affordability.