I would not suggest a 1031 with current bonus depreciation tax rules in place now.I don't know why people do 1031s???

What software tools would you recommend that would help not only manage the properties but also with invoices and year end taxes, etc.Extra bonus question - to our limited knowledge the rule of thumb for purchasing a company is to pay 2-3 time the company's income. 

It’s a 1930’s building w retail on bottom floor(they pay utilities and repairs) and office space on upper two floors(owner pays utilities and repairs.)Bonus question: what do you do to increase your income?

**BONUS**  The landlord and/or PM can make money off of this policy. 

Also he stated that the Chevy truck he had is rated at 6,000lbs, so it allowed him to deduct the cost of the vehicle on his taxes over 5 years along with bonus deductions. 

Real Estate Professional status to offset losses against gains is more complicated than meets the eye.I think none of my passive losses due to bonus depreciation did not count.ALso if I remember correctly my CPA said my active agent/broker income could not be offset by passive losses.While I meet the basic requirements of hours worked, it did not help me.I would guess 99% of most realtors cannot offset their income, because they do not actively manage the brokerage or have enough passive losses over and above their normal investment income from those assests that they get to write off anyway.For sure this is an area for most people that they want their CPA involved and on their return....there's probably enough people who think they can claim professional status and not qualify for the offsets, that it ends up being a flag for IRS.

To my mind, you have a 3 bedroom house with 2 bonus rooms that could be used as storage, home office, playroom, etc.If you comp out 3 bedroom homes what would the rent be?

If I successfully execute a RE transaction I should be able to pay off what I borrow anyway but that’s just a bonus.

What they got was just that, with a bonus five grand that they did not ask for, expect, see coming, or even know to hope for.

BONUS QUESTION: for those of you willing to answer THE question...