I'm looking to acquire my first rental property. 3-4 Bedroom, Between $130k-$210k, with no more renovation needed than just cosmetics- planning on having it managed professionally.

@Bud Evans Just curious how did you acquire a 72k SFR for only 2,500?

So I’m new to real estate, but I’ve acquired some knowledge.

Just to add a little more, to meet the requirements of the like-kind exchange, the seller must inform the intermediary within 45 days (so there is a bit of a time crunch and you'll want it set up and ready to go) which property is being exchanged and acquired.

Hello BP Mates,Last October we acquired our first SFH rental property and now it is time to understand and execute a tax strategy that aligns with our goals and maximizes our ability to invest in the future.

It still lowers your overall return, but it might also put undue pressure on the sponsor to acquire with less discipline.  

Consider something like this:Year    Units Acquired     Total Units    Monthly Cash flow1         4                         4                  $6002         8                         12                $18003         12                       24                $36004         20                       44                $66005         20                       64                $96006         20                       84                $12,6007         20                       104              $15,6008         30                       134              $20,100Etc.....

You always want people around who will look out for your interests.Accountant—As you acquire properties, doing your own taxes and bookkeeping will become increasingly dif- ficult.

Some useful info here:https://www.opploans.com/oppu/articles/8-money-pitfalls-to-avoid-when-co-signing-a-lease/Pitfall No. 7: Not putting all roommates on the leaseFalen Cox, attorney at Cox, Rodman, & Middleton, LLCReaders should be aware that if they allow another person to live with them, even without the intent to acquire a roommate or create a landlord-tenant relationship, they may have to go through the formal eviction process if that person refuses to leave.”

@Justin Thueringer, I would say that you have several options, but a lot depends on you acquiring more information.