It is brilliant for short term to build net worth/ equity but the gamble of losing your *** can be taken out of the equation with proper reserves.

It likely contains verbiage to the effect of: "The Seller herein acknowledges that it is the intention of the Buyer to effect an IRS Section 1031 Tax-Deferred Exchange and that the Buyer's rights under this agreement shall be assigned to [insert name of Seller's chosen intermediary here] to facilitate such exchange.

It's difficult to learn through so many set backs but I'm glad you've chosen to share the experience with us.

Fortunately, the calculated gamble had paid off.

I took the gains and some principal from the sales and invested in various syndications - chosen for the quality of the operator. 

If corporation status is chosen, the default is C-corp unless you make a separate election to be treated as an S-corp.

We have tentatively chosen Dallas-area as our first market to dive into as it seems to qualify for the signs of a healthy market (population growth, business/landlord friendly, etc). 

Memphis is a great cash flow town and you have chosen your turnkey provider well.

I am so inspired by the young folks on biggerpockets who have chosen to go “all in” so early in their lives.

You've chosen a very wise path!