Ideally, targeting properties conducive to the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method can optimize returns, although such opportunities may require thorough market exploration.Should you require further assistance in evaluating potential investments to align with your business strategy, I am available to offer guidance.

As an out of state investor, I made the decision to pull my equity out as construction costs in the area are incredibly high with limited availability right now.I completely agree that luxury rentals would be my prime target for a 1031.

I’m basing that more on things like W2’s being issued by a business versus what was reported by the person who received it - but I imagine it extends to all types of transactions.you are flirting with danger though.  

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

 Looking for some insight on a few things before starting construction on my first rental property!

If you are just starting out and learning the business , Avail is a great starter platform for single family homes. 

How long will it require to implement your business plan and rent / stabilize the property? 

If you want to get into the flipping business, then give it some priority and don't treat it like others treat their hobbies.

I have some experience with construction as I have worked in commercial and residential construction a little over a year, so I was thinking of doing a lot of the renovations myself.

NY state website has a broken link to an opinion about what constitutes "doing business" in the state.