If I ever did anything that triggered capital gains I would probably set 30% aside in a savings account just in case. 

What I would do as a new investor is this:First, utilize all the free resources on here to gain valuable knowledge from experienced real estate investors.

You'll gain a wealth of information networking with those folks.Happy investing!

There are many benefits.

I have a million questions about this business and I am gaining knowledge everyday thanks to my hour commute to work and BP podcasts.

Which option would leave me the most protected and also give me the best tax benefits?

Texas or Florida come to mind because I could take advantage of the veteran property tax benefits and also the likelihood of obtaining a multi unit property would be much easier to get into.  

If you assume your BRRR property is in the same area appreciating at the same rate you are missing out on the benefits of leverage.There are a couple of wonky assumptions in here though.If you are really doing a BRRR I don't see where you are accounting for the "renovate" part of it.

But I would say that a cost benefit analysis would have to be done. 

This person could introduce me to others who might be of benefit down the road when maybe I'm putting together my own deals.