Ensure the property appraises at its updated post-renovation value to maximize the equity you can pull out.A refinance isn’t a taxable event, but transferring ownership to your LLC may affect depreciation or future capital gains.

This joint effort enabled us to maximize the property’s potential without financial strain, proving the strength of our partnership-driven approach to real estate investing.

Long story short if you are committed to house hacking the sky is the limits and there is endless possibility, it really comes down to your comfort level and where exactly you need to be in New Jersey.

The outcome was great.. they secured a mid-century home with a rental unit that offered both a comfortable living space and a reliable income stream.On a personal note, a friend of mine made a bold move and purchased in a slightly less popular area.

As Nathan suggested, I'll learn a lot more as I go, but what currently resonates with me is minimizing tenants rather than maximizing RoI.Tim and @Adam Tafel, I will be reaching out to you.Thanks again!

Is it segregated (only my funds in the account)- do you have an attorney on staff that reviews exchange docs and keeps them current - what is the typical time for your staff to complete an exchange ( you want to get a feel for if they are understaffed and can they get the work done on your time frame)- how many exchanges do you do a month- what is your errors and omissions insurance through, can I get a copy- what is the amount of your fidelity bond - for each occurrence- what protections are in place to prevent wire fraud- will my funds be used by the company for outside investments (goes back to the type of account funds are held in)- who will be my contact during the exchange (goes to customer service, you want one contact who you can reach by telephone)Investors should keep in mind that it is their money they are placing with a QI to hold for a short period of time and be sure they feel comfortable with the company they choose to perform this role. 

Consulting a tax professional is key to ensuring compliance and maximizing benefits.

For an unrenovated 1+Den/1BA LTR in our section of Northeast though, $1,300-1,400/month is certainly in the ballpark of what I could comfortably get with some very minor improvements to the space between tenants.So all that being said, I think your target of $1,500-1,600/month for your 2BR units would be more than doable. 

Maximizing depreciation can offset a lot of cash flow. 

Some folks are happy with 5-8% profit margin and others don't look at much under 20%.It is all going to be up to you where you are most comfortable.