Additionally, I have $100,000 in cash in the bank, and my monthly expenses for my home and family are around $3,500.My wife earns between $100,000 and $120,000 from her W2 job, while I've recently lost my job but found a new one that pays $65,000 a year.

We are budgeting for no rental cashflow so see upside if we can STR and additional upside when rates eventually and hopefully drop down for a refi.  

In addition, due to the 2 of 5 year rule there often is no need.  2) you cannot 1031 a property that has not been put into service to be an investment property 3) you cannot 1031 a flip.  

You may be able to see if a retailer still sells the 2024 version.If you can't get the one time purchase, you would need to see if the cost is beneficial.For real estate -  Quickbooks desktop > Quickbooks online because you can set up multiple entities within quickbooks desktop and not pay an additional cost per entity that Quickbooks online would charge you.Best of luck! 

We also allow users to amend a post at any time with additional information.We have no plans to change how the forums work as it pertains to the deletion of posts.

I’m just not sure if it really makes financial sense, even though I’d be losing like an additional 50,000 in liquidity, since I’ll be able to save more living at home and that loss in liquidity at least goes towards equity so I could be cash flow positive year 1.

Finally, for simplicity, we'll assume that in every strategy the price (or ARV) of the property is $150k, that we're starting with $45k, that we can invest an additional $10k every year, and that we can use any remaining cash reserves to continue purchasing more properties. 

Having a real estate license, I would credit the commission payed out I would receive for being my own agent towards closing costs for the new property.

Additionally, I’m curious about how this would apply to properties in provinces like British Columbia, Alberta, or Ontario.

With the potential for strong cash flow, appreciation, and inflation protection, real estate remains a powerful addition to any diversified portfolio.What Do You Think?