Anytime you're mixing your living situation with your investment goals you need to carefully consider what trade offs you and your family are willing to make.

It's part of the ritual to trade cards. 

The trade or business standard to qualify is not really very high and is typically understood to include the activities of your agents (which includes PM activities in my case, making it very easy for me to claim). 

So if I am a very large bank, that might be publicly traded, maybe I don't want that exposure.  

There are plenty of other sales-type jobs that might actually teach you more, or help you grow, about the trade than being a lone real estate agent/investor.Just my two cents... but the final decision is, of course, yours

Occasionally I’ll offer financing to others but mostly trading paper. 

Worcester is a fantastic market with lots of trading taking place. 

Buying your first propertyYear one: Buy a 4-plex property using the buying standards aboveYear two: Focus on managing effectively Keep on building equity and saving cashflow Year three: Buy a second fourplex (units don’t matter much, don’t focus on that)Year four: Focus on managing effectively Keep on building equity and saving cashflowYear five: Make a trade-up using 1031 tax exchange deferral Factor in closing costs and agent fees You'll need a little over $200,000 in equity or saved cash to do this step Use the same standards as the other properties before Buy a 24 unit building ~ $800,000 (but worth $1,000,000)Year six: Focus on managing effectively Keep on building equity and saving cashflowYear seven: Focus on managing effectively Keep on building equity and saving cashflow This is going to pay you around $57,000 a year in passive incomeYear eight: 1031 exchange it into a 75-unit apartment complex for around $3 million.

I will also consider the option of trades in the St Augustine area.

So it seems like I have to offer them an equity trade.