But, as my wife and I have done this over the past 5 years, we have found it moves less and less each time, and that we are essentially living the life we envisioned 5 years ago when we started this process. 

In any event, that would mean I’d owe the IRS approximately $6k on each tract of land that I sold?

We are ok with no or even slight negative cashflow since it would be a strong equity position for us if we hold it. 

You'll want to read Maryland new requirements for landlords.https://dhcd.maryland.gov/TurningTheKey/Documents/HB693-Land...Thank you for the info, would you happen to have a link to the Maryland Tenants' Bill of Rights that we are supposed to attach to the Lease an addendum?

- This is great news, because I have never played violin before.And speaking of arguing, we are actually in agreement on the validity of REPS strategy, and I have many clients doing this.

Well the bet I'm making here is that CapEx and repairs will be very low the first few years (honestly event he first decade), and once all the construction ends I will be able to increase my rent closer to market rent at $2k which will give me a better cushion.

Lenders stopped allowing rent by the room due to modifications done to the property resulting in functional obsolescence and significant cost to cure in the event there was a default and they needed to foreclose on the home and resell it, given that the main buyer pool for single-family homes are primary occupants. 

We are newbies, and don't want to miss out on a great investment and tax savings opportunity, but obviously want to do everything correctly in the eyes of Uncle Sam.

We are starting to hit our capacity with pulling data from reports and running some of the day to day operations.I would like to know what key people we need and if we’re analyzing the right data.

Cash out refinances after a 1031 exchange are not a taxable event.