Additionally, holding a real estate license as an investor not only saves on commissions but also provides valuable access to tools like the MLS, enhancing your capabilities as a wholesaler.Feel free to share where you are located—there might be exciting opportunities waiting for you!

Additionally, does anyone have any good recommendations for hard money lenders im the DC, Maryland, Virginia area that they have experience with?

@Jonathan Greene  I'm selling older properties, one recent sale was built in 1890 for example, selling all townhouses, all semi-detached, all rental condos, vacant lots (no income), and most multi-family properties. 

I rather not put them in but I also don't mind the extra income for the occasional phone call to the appliance technician.

This allows many groups (I know the crew at Easy Street can do this) even close a loan in a week or less.They'll stay off of your personal credit, while not impacting your personal debt to income which is valuable as you start to scale.

Otherwise, you're looking at trying to buy the best cash-flowing property with your 1031 exchange so that you can use the monthly income stream to pay off your total debt a little bit faster.  

It seems to me that if you can find a value add it can happen.   

Additionally, explore technology tools that streamline remote property management tasks, such as online rent collection platforms and smart home systems for monitoring.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

The property isn’t really making you passive income, but it’s also not costing you anything to own.