Note the standard 401k and IRA limits will be maxed..This needs to be AFTER TAX contributions that can then convert to Roth.Thank you for any insights-pr--Respectfully ask not to be contacted directly by financial advisors seeking new clientele. 

This revelation prompted me to reconsider the purchase, as it indicated financial instability and substantial building repair needs.

Example: "I want to build financial independence through real estate investing.

You just relist the asset on your 1065 (Form 8825) tax return with the adjusted cost basis (the original acquisition cost with whatever depreciation you took on your 1040).

True financial freedom is no debt.

If you do decide to have a "partial" 1031 exchange and use some of your 1031 sale proceeds to pay off debt on other assets, you'll just want to make sure that the improvement in cash flow offsets the tax liability that you incur from your partial exchange AND the lower rents from potentially buying a less valuable property with your partial 1031 exchange. 

Owning a home is a life goal, regardless if it financially makes sense. 

Give me a call if I can help with any questions about the financial side of STRs.

If you want the least amount of stress and risk, that's fine, but financially you'd be much better off over the long term by using your cash flow to buy more leveraged properties instead.

Sometimes a property is a great prospect by layout to add space or do a certain renovation, but when you run the numbers the project just doesn't make financial sense.