It will have to be a pass through/disregarded LLC to keep the tax payer the same and the 1031 valid.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Same tax situation and more likely higher potential to appreciate faster.

Just a few hours of preparation could have saved you many hours of effort, a lot of worry, and thousands in lost income.

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

I believe in putting in the work—1,000 hours of research, testing, and learning—before offering advice, and I’m excited to tap into the collective wisdom of this community to refine my approach.Here’s where my head is at: I’m considering strategies like short-term rentals (Airbnb) for higher cash flow, long-term rentals for steady income, or even creative options like house hacking or partnerships to stretch the funds further.

I am from Iowa so our goal would be to use it in the winter months (dec,jan,fab) and try and break even off the income from the remaining months. 

For your scenario, a DSCR loan could work well if the property’s projected rental income can cover debt payments, but most DSCR lenders don't include renovation costs directly.

Maintain - includes taxes and insurance?

.$275000 with 25% down, taxes $4080, insurance is 3000 yr and rents is $3800 month, Water $400 mth.