I recommend that you learn the tax code and take ownership over your strategy.Not having some foundational knowledge and an opinion on how to approach taxes as a business owner is a huge mistake.In my experience, every single business owner who says "I just let my CPA worry about it and I focus on my business" is doing a suboptimal job at tax planning.They are likely missing out on 10s or hundreds of thousands in saved dollars every year.Stop making excuses and get to work.Just a few months of part-time learning about taxes will pay you for the rest of your career.

I currently own a 3-unit multifamily I am selling/1031ing.

What was your purchase price, what is the estimated rehab cost, and what is the ARV?

How are your reserves and credit score?  

Always get permits for conversions and be cognizant of the experience renters will have in your home.

Your accountant will guide you through.

There are so many variables to consider before your question can be answered. 

Its also good to know which programs are available and which ones suit you for your REI.You typically want to use the banks money and keep yours in savings or earning you interest.

Discover your 2,350 sq. ft. coastal oasis on a spacious 17,000 sq. ft. lot.

I own a small 2 bed/1 bath home on 40 acres 30 minutes north of KC.