One just for the SDIRA and one for personal gains.

I'm going to call her current landlord tomorrow as well as he place of employment to gain some more comfort. 

One day, with a lot of handwork and gaining knowledge day after day. 

I'm here to learn what I can from everyone's experiences at the same time offer any insight that I have gained over the last few flips I've done.

In NYC the upside is equity gains over a period of time.  

The rule is that the replacement property needs to be equal or greater value.So thanks to an old IRS 1031 rule, you can sell your old properties without paying capital gains if you exercise the 1031 and follow their rules.

Did you originally intend to cash flow this property or were you looking for capital gains?

If it's a $70,000 gain, I just "kept/made" another $15,000. 

I am also in the process of gaining a listing from a custom home builder that I called from zillow.

Reason this seems important is that it would help determine strategy of a larger vs. smaller downpayment to increase cash flow or increase leverage. 2nd Question) I've read about "special allocation" of taxes that allows for the tax gains/losses to be distributed in a manner that is not equal to the ownership stake.