The first thing I ask is why am I Buying the property.I always look at the exit strategy first, is it going to be a rental, a lease option sell, am I planning on living in it.

Yeah this is exactly the plan!

Are you planning to sell your motel?

That means paying all cash isn’t an option unless you plan to bring another $600k to the table. . 

Plenty of people do have 10-20 unit and work thru it, you just need to think it thru and have a plan if you don't want to do all the work. 

.- The townhouse you're moving into is currently a rental, but you plan to live there two years for the 121 exclusion.

Make sure your exit plan aligns with it, whether that’s refinancing or selling.

There were platinum and non-platinum plans. 

You have kids - do a 529 plan and max it out You will retire one day - max out your 401k yearly, IRA, Roth IRA (or backdoor to Roth IRA)You will have health expenses one day - max out your HSA From here I'd invest in Real Estate.

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.