Yes, do the tax exchange if you can.  

That leaves $400 to cover taxes, maintenance, vacancies, etc.Now, let's pretend ALL your expenses come to $2,600 and you have $400 left over.

.: New to REI & BP, and debating my first move.My Background:30, single, no kids, no property, high income, fully remote worker$300K to allocate toward real estate (+ $100K/year after tax)Currently renting in NYC but planning to move back to LA (hometown) in summer 2025 or the following yearTired of paying rent and want to start building equityMy Dilemma:1️⃣ House Hack in NYC – Stay a couple more years here, buy a small multi-family now and offset costs with rental income.

We pay payroll taxes and workers comp, we comply with state and federal laws regarding work place safety, PTO, vacation, labor laws et al.

Welcome to the community and be ready for a huge amount of information at your finger tips.

On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

All-In Costs & Profitability-ARV: $450K-Purchase Price (financed): $170K-Repairs: $150K-Holding Costs & Financing: ~$20K–$30K (insurance, taxes, utilities, interest, etc.)

Also, managing the property as a rental could offer tax benefits.When purchasing, keep in mind condo association fees and maintenance costs.

I currently have a pre-tax retirement account with employer match and a Roth IRA invested in the stock market.

Please, share some tips and cite the pages and books on what was so enlightening that one cannot find for free in the forums here or on Youtube.