If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..

Many good resources here and forum post for new investors. 

The analysis also reports that new multifamily development will “remain near the average recorded over the past five years”.Integra Realty Resources’ 2017 Commercial Real Estate Trends Report ranks Pittsburgh #2 on its Top Markets by Multifamily Transaction Volume Based on YoY Change.Pittsburgh’s rental vacancy rate has declined by 25% over the last five years.Pittsburgh is booming with developments (see reference #6), “there is no better place to be a developer right now than in Pittsburgh.

.- Background: Took some real estate classes before but really a lot of self learning on creative financing - Current Goal:To close my first wholesale deal within the next few months by learning from seasoned investors and applying proven strategies.I'm here to absorb as much knowledge as possible, so if you have any tips or resources, I’m all ears!

In my case, my specialty is flipping the transferable residential development rights from resource land such as farm and undeveloped rural-residential multi-acre parcels.

I'm wondering what tools and resources you all use as rental owners and investors to get or keep your financial ducks in a row?

A good property manager can be an invaluable resource for first-time investors, even before you purchase your first property.

So again I'm able to do that because I've built a life around real estate and it takes time a resources to consistently get deals like that.

I have attended local meetups so that I can have a handful of experienced folks who have resources to share.  

Resources are endless here.