We have HELOC money available from our primary and one of our rentals at about this same rate, so that could be a backup plan.

When you do a traditional 1031 exchange you have 45 day identification period, to provide a list of potential replacement properties and 180 days to close on a replacement.

In many/most BRRRRs that is irrelevant because when the property is bought it is often not fanciable using traditional mortgages.

However, it’s crucial to track and document all hours worked meticulously to demonstrate material participation if audited.The CPA’s suggestion that your activity would be treated as passive could stem from the involvement of a property manager, as their role could make it appear that you are not the primary manager of the rental.

Live in each every two years and sale for the primary residence tax advantage.  

In a traditional MLS sale, there are realtor fees, there can be concessions, there can be work orders and delays. 

Purchase price: $350,000 Cash invested: $50,000 Sale price: $550,000 I acquired this property in 2015 and used it as my primary residence for two years.

Most would agree that taking money from you primary residence is not a good idea at all. 

Keep your day job.Fortunately, this is my 2nd business and my primary business is small construction company. 

All depends on the interest rate on the primary home and if fixed.