What is my option here?

I would recommend chatting with many different contacts to see what fits your vision for real estate investing in Memphis because there are always pros & cons to every investing model and you should know what your options are!

I will try to assemble all related questions in this one long post, based on my 25+ years of charging my clients and networking with my peers.1.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

I want to explore the options of getting a STR out there, but I'm no big shot investor.

Don't miss out on the tax-saving opportunities you have from property using this with a REPS or STR strategy.On the other hand, paying cash for a couple of mobile homes is a more straightforward option.

Option 2: I can sell it and pull all the equity tax free, since I'm married and it's our primary residence.

@Mike Shahi Selling the home as-is seems the most tax-efficient option.

If you believe you have paid in enough to date through W-2 withholding and the expectation is that you will not owe considerably more that might be an option. 

They can provide specific advice based on your situation, goals, and the nature of the property.Sorry this post is a lot longer than I intended.