I need your expert advise.

So, I'm here looking to soak up all the knowledge I can from the individuals who are where I want to be.If the current economic climate has taught me anything, it would be that we are expendable as employees and can be fired or laid off at the drop of a hat (which happened to me).

IMHOFollowing this post to see what other, more expert, investors say.   

My plan is to continue analyzing properties based on their individual merits and not get distracted by a macro-economics thesis that has a 50/50 chance of being accurate.

@Dave Foster can be of great insight on 1031 he is the expert on this. 

You recently gained $50K appreciation in one very good economic year. 

Focus on factors you can know (laws, economic trends), insure against those you can't control (i.e. floods, fires, earthquakes, etc), and have large reserves and a good exit strategy if things change, making the investment no longer desirable. 

Here's some quick info that might help clarify how rental income is taxed: Real Estate 101: How Rental Properties Are TaxedIt probably also wouldn't hurt to sit down with your tax professional and have him/her give you some expert advice specific to your unique tax situation.

Closer to Boston still sees more resilience in recession / economic downturn.

@Korey Enstad, as with the others, I am not a building inspector or fire code expert.