This is where we will go back to your primary goal (Owning a cool property that you use sometimes vs. a pure investment property). 

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

If you buy primary you only exclude $750k loan interest if you itemize deductions instead of taking standard.

But you could use the 1031 to buy the rental portion of the building and move in to another unit as your primary.

One would be when you have a primary home and its listed on MLS (for sale) and the bank gives you the cash out until the home sells and the loan is set up for 12 to 18 months.

Here's why:Affordability: Your $180K-$200K budget works perfectly here, with plenty of single-family homes and duplexes in B or C+ neighborhoods.Cash Flow: Rent-to-price ratios are excellent, with many properties renting for $1,500-$2,000/month.Landlord-Friendly: Oklahoma has straightforward laws that make managing rentals easier.Economic Growth: Both cities have diverse, growing economies, fueling rental demand.Low Taxes: Property taxes and costs are some of the lowest in the country, boosting returns.OKC and Tulsa also have strong investor networks to help you build a boots-on-the-ground team.

Our primary objective as coaches is to help clients ask the right questions, develop the right criteria, and identify potential red flags.  

They must be claiming it to be a primary.

After doing quite well in the CT market space, I’m finally starting to adjust to the Ca market.I think it’s key to be in the know about off market deals, for both your primary and investment. 

I'd ask title if I can just amend the OA of the primary LLC to be member-managed.