It all sounds good it really comes down to the attorney you have to structure it in a way that allows for greatest flexibility in case you know what hits the fans.I had that happen a few years ago in an equity deal and we had the other partner buy us out of the deal because it was taking a lot longer than they anticipated.

I feel the value of this condo is at its peak considering the market.Are there any legal exceptions for the 121 home sales exclusion if I buy another primary residence shortly after the sale to avoid tax?

We have 33 public elementary schools which create neighborhood groups, and some are buying for neighborhood, and others are buying to rent to section 8. 

Even for window AC's, pulling them out and thoroughly washing them at least annually will prolong their life, unless you are buying the very cheapest units.

However Property tax's some of the lowest in the coutnry and property maintenance same thing if you buy a stucco home with a tile roof.No real major weather threats like many markets  IE hail storms wind storms etc.. can get windy but thats common.. 

If and when you buy the building, if there's any leases that have run month-to-month I would have the tenants fill out applications, requalify them and execute new leases with them.

In terms of the loan(s), I currently have a steady and competitive W2 job and very low DTI, however I’ll ensure to verify the rules and regulations for rental income when shopping lenders, so I don’t hit a roadblock when buying the next rental. 

Do you like "full service" meaning - someone to partner with you to not only manage but, help you to buy and sell?

Investment Info:Single-family residence buy & hold investment.

Investment Info:Condo buy & hold investment.