Can it still qualify for 1031 because the rule is u have to live in it or rent it for 2 out of 5yrsSecond, if I buy a property, renovate it and sell within 3/4 months, can it qualify for 1031 because I heard u have to hold it for 1 yr.Is coop sale and exchange with purchase of single family home "like kind" of exchange?

@Mann Phan First, I want to compliment you on getting into real estate investing and purchasing six rental properties.

I just purchased 24 units (three identical 8-unit buildings) that share a parking lot.  

In the next year, I'd like to purchase my first small multi-family property in the Grand Rapids area that I can house hack.

Hey BP members,So this last year I purchased my first SFH to house hack.

@James ThompsonA large portion of my clients have been purchasing STR's in the Tampa/Clearwater market and several that have purchased last year, are reaching back out to purchase another this year because their numbers have been so strong. 

Purchase price: $140,000 Cash invested: $20,000 This was my first home that I purchased back in 2021 when interest rates were still low and competitive.

Three properties for $170K sounds like a bargain, especially if you can force appreciation after a turnover.If the property is breaking even with the initial purchase, I would pull the trigger on this deal with plans to BRRRR (Buy, Rehab, Rent, Refinance, Repeat) the properties as each one turns over to recycle my cash if the numbers work out.

I simply budget 5% of incoming rent for maintenance and 5% for future capital improvements and manage the properties as time goes and as things come up.For example, when a tenant moves out, I will look at the property and determine if any rehab/upgrades make sense at that point.

I would imagine the team you bring on will depend on the focus of what the fund(s) will be purchasing.