Michael Poat Hi Mike-I love the SBU idea-actually is one of my favorite investing locations on LI for the main reason of foreign (mainly SE Asian) students coming over for room and board.

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That said, we don't model any market appreciation per se at all.

I'm a bit partial to the SE Valley suburbs of Chandler, Gilbert, QueenCreek and San Tan Valley.

@Adam Zach I’ve been around plenty of my fellow engineers who are fine engineers per se, but constantly got involved with dopey investment schemes and get rich quick plans.

SE Arkansas.

Our eldest SE daughter leases & deducts it using a % for business breakdown & has done so for 5 years. 

I didn't see your expected timeline (at $44/day interest) or ARV, so extra hard to estimate profits.Be sure to reduce your ARV 10% for realtors and closing costs and after-inspection concessions.Be sure to account for your silent tax partners- 1) Uncle Sam federal taxes & FICA SE taxes,  and 2) Your state dept of rev taxes, if any. 

I may do a 1031 exchange but the capital gains rates are low right now and I can most likely make money with some of the cash and use some for some capital improvement projects as I am mainly mortgage free at this point.The income that is not subject to SE taxes might be subject to SE taxes via payroll requirement if you run this transaction in your S-corp.