My question is do I have to recapture all the depreciation for tax in 2025?

If not, what are property tax sales? 

How do you pay for the tax and insurance?

You are going to need to see their tax returns to see if they are telling the truth.And what is the interest rate that they are offering you?

The sum total of taxes of each of the 4 units will usually be higher than if it were apartments.

Unfortunately experience means you've made some costly mistakes :-) So, to avoid those costly mistakes, when I take on a new approach in investing, I buddy up with someone that already has experience doing them.

The intent of 1031 was not to let passive investors get out of taxes. 

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

Our team along with clients all are heavily investing in the area, and it is a strong place to start. close proximity to New York and New Jersey, paired with extremely affordable property/taxes and high rental demand make it on most people's radar.  

Taking a break from working on our 2024 bookkeeping and taxes.