It has sorta caught my eye and want to start getting into that type of strategy!

Principal paydown is the same as cash flow in the eyes of the IRS when it comes to profit the only difference is ease of access to the money.

Unless you are rather experienced with this type of damage, it may be hard for your to tell the extent of damage.The challenge with fire damaged properties is that there is more than meets the eye.

I am currently eyeing purchasing a duplex in the DFW area to house hack our first deal.

And you have a total of 180 days to complete the exchange and close on your replacement properties.But you want to keep a close eye on the IRS. 

I'm frantically trying to wrap up our current rehab in hopes of catching some of these fearless buyers unfazed by the virus who are still out there paying premium prices.The only way we're going to see any changes in the market is IF and WHEN there is some serious inventory buildup in the Actives, and average of 4-5 months in "Days on the Market" column.  

@Phil Shearcroft I think that one of the best resources is right here in front of your eyes.

Very eye opening to the out of state investment strategy! 

If accepted then you do your due diligence (eyes on property, check title etc).

That being said...THANK YOUTHANK YOUTHANK YOUI had a eye opening conversation with the bank.