How is this done in regards to short term capital gains, recording the deed?

Short term is to own one and gain real estate experiences, hopefully can make some profit at some point (not necessarily today) to acquire more cash flowing properties.

You’ll gain experience by talking to sellers (basics) then focus on becoming a better negotiator.

  ABSOLUTELY NOT  1031 has time restrictions to identify and purchase like kind and typically you'll  buy a more valuable and thus more expensive Rev gen property to avoid the punishing penalties paid on the Boot( cash in ha d because you selected an exchange property that was fewer dollars than The sale price of last property go to irs site and read sec 1031 it's been there a hundred years it's really clear 

Instead of having to file interest income yearly, (next year I may be a non-resident alien, may not be going back to USA), would like pay and to report all gains and interests for tax year 2017.  

You will not be paying any taxes on the first $500K (as a married couple) on gains anyways. 

You’ll gain experience by talking to sellers (basics) then focus on becoming a better negotiator.

The main takeaway I have gained after reflecting on last summer is that 1) chasing money alone will not work in this business, and 2) that it cannot be done alone, instantly just like that, just after reading a few books or taking an online course.  

As you gain knowledge and experience you can bite off more.

Hello BP,    I am a newbie currently dedicated to REI full-time in the Sacramento area with goals of becoming an expert RE investor, while gaining financial stability and time freedom.