Please consult with an attorney that is familiar with 1031 exchanges.If you move into the farm after two years and later sell it, capital gains will be prorated based on investment vs. primary residence use, limiting your Section 121 exclusion ($250K single / $500K married).

These are lovely single-family homes.

But if you are operating a single unit, realistically how long can you wait for that tenant to be caught up?

The income includes things like late fees, a rented garage, and utilities that are billed back to the tenant. 

The contract was a simple 3 page one and I wrote this in.Also, it is a single family being rented as a rooming house (which is technically not legal here).

Purchase price: $50,000 Cash invested: $50,000 Single family brrrr

Quote from @Sarah Johnson: "Beware of Peter Harris Program: My $10K Scam Experience"Hi everyone,My name is Sarah, and I’m a single mother of two.

If its single family I wouldnt bother with a manager but 2 or 3+ tenants in same building I would consider it depending on how hands off you want to be on the tenant issues and how handy you are

Quote from @Casey Wilson: Hi there, I was wondering if any Detroit-metro experts from the PB community could offer advice on what areas in the Detroit-metro area might be worth exploring for rental properties (ranging from single family homes to 5+ unit apartment complexes).

I'm the single breadwinner for my family (2 kids) so I don't know if I'd have the time and energy to both run this rental and manage my work so I can reach the income level to handle the bigger mortgage comfortably.I feel like this chance for us to have a rental property with positive cash flow won't come often so I really want to explore it.