I have 200k in liquid cash (yes this was self earned thru 5yrs of sacrifices and hard work 12-16hr days 7days a week with maybe a month in the summers as break to see family back home, but i dont want to do this forever) My dad and I want to be partners going into these deals. there is a new construction 4plex i am looking to build which will be 775k that i will put 25% down (half me half my dad) which will cash flow net 2k /mo if i rent it out LT (COC of 11% which isnt bad and apparently my agent who recently worked on a neighboring new build said the appraisal after its built is mid/high 800s, also my plan is after 2yrs to REFI at lower rate). i am considering to have 2 of the units as MTR for local nurses or construction crews which of course can increase profits much more.i also have a 3acre property that i am thinking to build small 2bd 1ba cabins and use as STR/MTR/LTR. but i am also wanting to do do STR as i love the concept and have watched Robuilt everyday learning from him. i am looking to buy land in a mountain/ski town (189k 10acres) and build a beautiful aframe and use as a STR. all these property ideas are close by to me so i will have a close look on them and will manage myself. i have just been consuming knowledge endlessly the last 3months in preparation for this decision.but as you can see my head is all over and im unsure what the correct first step will be. i have many goals and visions of what i want to do i just need some help making a correct first decision on those who are far more experienced than me in this real estate space so i use my capital in the most efficient way. i understand real estate is long game and i have no issues with that but i would like to at a minimum cashflow 100k a month by the time im 30. this is a big goal but i have 8yrs to do this. thank you for your help i look forward to the responses(side note: i am not considering house hacking as i live with my family, this will possibly be an option in the future)

If you are going to go heavy into real estate investing, there are many ways to defer taxes, so losing the personal residence deduction may not be an issue.

Sounds like a whole lot of issues over nothing as someone with 45 units blinds and a few holes are the least of your worries the turn over and vacancy cost to replace a tenant would far exceed some minor miscellaneous cosmetics.

@Thomas Rutkowski, You also state "...And because of the fact that it is done through a qualified intermediary, the depreciation recapture is deferred for the same reason that it is in a 1031 exchange.Readers should take note that the California Franchise Tax Board has issued negative guidance regarding using the Deferred Sales Trust, Monetized Installment Sale or other installment sales techniques to "save" a failed 1031 Exchange. 

Airbnb has told me if there is an issue when they leave I have to fill out their form to see if I can get reimbursed.

i have great cleaners, no issues with reviews for the year.

It would be great to hear from a wide variety of folks on what issues they face, processes that slow them down, or any other problems that if they were automated, they would benefit greatly from.More than happy to provide insight into these areas.

You can find the best cash flow in areas that are hard to be a landlord and on homes that have deferred maintenance and tenant issues so that should not be your main focus.

However, the issue I have is that I only have 1 year of solid income from the business, the year prior to that is inadequate, and I know most mortgage companies require 2 years of income to qualify.

I’m active duty Air Force and ran into the same issue at my last base.