I’m not an attorney and this is not legal advice.

We're keeping LTV low, taking more term on our debt than we anticipate needing, and have a plan that focuses on bringing the old leases more in line with the current average rates.We also run Downside scenarios to see what the numbers look like if we're wrong about room to increase or (worse) the market changes and results in vacancy going up and rates going down.Those are not pretty of course, but a large part of winning is being able to stay in the game.

Say I wanted to rent to a cousin; would I not be legal since it does not say I can’t ?

You are supposed to get the 1031 exchange company in place before you close on the sale of your property and not touch the money.No legal advice given.

Re-use same funds from first property so No new Fees and no added interest on loan.Third Property:HELOC - Pay back debt.

My problem is I I have other debt that I have been working on taking care of.

Rehab loan and the refinance into long term debt.

I have worked in investment banking, private debt, commercial banking, and private equity all at “prestigious” firms and closed $30bn+ worth of deals.

I was wondering:  I suppose a person can stop paying property tax and eventually the State will take it away...but I am worried about legal consequences or penalties for doing that.

@Glenn Jubildo - On top of everyone else’s concerns, that I feel are very valid,  before you purchase a 4-5 bedroom home that you plan to use as student housing, you may want to look into 1) whether or not it is legal to rent to 4 or more unrelated adults in your market (in mine it is not) and 2) if you will be able to find a property manager willing to take on student rentals.