A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

After five years, you'll have earned $90,000 in rent income and gained $34,000 in appreciation.Buy four houses with $50,000 down on each.

That project taught him that buyers in these well-established neighborhoods pay close attention to the details..things like making sure the ceiling lines are clean, storage is intuitive, and every inch feels purposeful rather than tacked on.For your project, thinking about the functionality of the added space is key.

It may end up being a loss or small gain, but most of them won't end up being a fire sale. 

We now have enough manpower to provide more attention to our clients if they have questions, concerns, or issues along the way.

Let's see: You sell one property, and to avoid paying cap gains tax, you then reinvest those profits within 45 days into a larger "like kind" property.

I think behind tenant screenings and leases there is a quality of a landlord that's also as a person that is the respect for a good person and the intelligence of making fair affairs.For me for ten years in the past I had a house of 650sqft (two rooms and cozy kitchen) where I always have been giving away one of the room for others who were asking for help for themselves and I didn't had any earnings for me by that, and that has been during for many and many years, meanwhile I was surely needing more space for me, for my business in a studio and for my own personal life I eventually could have been having.Nonetheless this, on last years I had no more an house and I needed a room for rent, but even before any screening the landlords were being unrespectful and very unreasonably severe to me, they often had making me lose so much time by no taking or going away to the point I had no other choices in the end, and they set me in the wrong places for me, dangerous ones, too small, too big and very expensive, unhealthy ones or not providing anything at all when it was obvious they needed to.To me this kind of behaviour is very wrong, mostly because usually they are the same people who pretend respects and acts as they are very careful and attentive to housing situations in general, but with me, they have been lying above anything and just disrespected the person at a human level. 

Future gains on the investment portion may be deferred with another 1031 exchange, while gains on the primary residence may qualify for the $250k/$500k exclusion if residency requirements are met.This post does not create a CPA-Client relationship.

Before I jump into the cash required to operate which isn't given enough attention by most investors there are additional fee related questions a borrower should ask any prospective lender: Are the 3 points inclusive of loan doc prep?

@Landon Sheveland People do fix and flips while living into the property to classify the property as primary residence and not pay any capital gain taxes. if that is your intention, don't use LLC to establish this as your LLC.If your goal is different compared to what I said above, you can use LLC.