Best wishes Thanks Dan,Living of refi's is risky business IMO and something I would personally never do.I also know of many investors in "your market" getting over leveraged and hoping for appreciation, only to loose everything.And others that own and manage in Detroit for example that make a fortune.Yep, they bang on doors in the heart of D class area's and collect rents in cash.No appreciation, no rent increases and a strict cashflow play.Seems to work well for them.Each to their own I guess.Much success >Living of refi's is risky business IMO and something I would personally never do.I consider it low risk because 1) most cash out refi are limited to 70% LTV. 2) most loans are non-recourse.  

Nice area though and properties probably will hold their value as long as kids go to school in person at a building/campus. 

Let me know if you ever want to chat more directly about house hacking as my wife and I personally do this as well as most of my clients that I help!

So, while taking into consideration the age and condition of the damaged item at move in and the time the tenant was renting for is a factor, I personally don't think using a strict IRA depreciation schedule makes sense.

Furthermore, delaying decisions may prevent both parties from pursuing new opportunities aligned with their respective goals.Evaluate your long-term financial objectives and personal aspirations for the portfolio.

@Paige Corsello two helpful thoughts for you:1) We don't know, what we don't know.2) If you don't ask the right question, you won't get a useful answer.Another poster answered your 1031 question, what purpose would repeating that answer serve?

Every meeting you attend and every person you meet will be another building block in your success story.

This is considered a personal home - even though it has rental income, so you only have to have 3.5% down frequently, not the 20% down it takes to buy a true investment property.  

Will the person get paid for that?

Maybe you can if you already have a perfect SAT, make a large donation to the school, and have a personal relationship with the head of admissions.