Yes, you will be required to pay income taxes on your withdrawal based on your year-end income vs expenses.  

Note that if your property is in a flood plain, banks will require flood insurance during the entire term of any loan on the property, which can be pricey.

DIY has its advantages.Does Whitesboro not require permitting yet?

…on the other hand, flipping, BRRR'ing, wholesaling, and out-of-state investing are more like double black diamonds—they require a lot of experience, and a single mistake could have dire consequences.The fact of the matter is: real estate is a high-stakes endeavor, and the more advanced strategies (like BRRR'ing, wholesaling, flipping, out of state investing, etc.) can easily bankrupt a beginner when they're executed poorly.Although HH’ing is a strategy that's good for beginners, it’s not just for beginners—there are plenty of very experienced RE investors worth many millions who continue to HH, because it's such a powerful strategy.Now, having said all that, house hacking is not necessarily easy, and it’s definitely not risk-free (if it were, everyone would do it!)...

Depending on your personal finances, shopping for a triplex or quadplex may require the existing market rents to pass a self sufficiency test, to ensure that you will be able to pay the note.

Just putting in a glass block window will still require some finish work where you pull off the moldings. 

Just FYI - If you have a substantial renovation to a 3 family, you will be required to add a fire sprinkler system in Massachusetts.

I'm considering diverse options for reinvesting the proceeds ($200k+) from a planned 1031 exchange and am open to various strategies:Las Vegas/Reno: These markets offer potential for both cash flow and appreciation, but I'd need more information on their suitability for mid-term rentals and current market conditions.BRRR strategy: This approach could be attractive for value creation, but I'm hesitant about out-of-state management and require a turnkey or experienced team to handle renovations.Other locations: I'm open to exploring other markets offering favorable investment opportunities, particularly turnkey properties or areas with manageable maintenance requirements.My preferences:Turnkey properties: Minimize management headaches and focus on cash flow.Limited appreciation: While some appreciation is welcome, cash flow is the primary priority.Shorter-term rentals: While Airbnb isn't an option in my current area, I'm open to exploring short-term rentals in other markets.Avoidance of major renovations: My recent experience has solidified my preference for well-maintained properties.Current portfolio:3 duplexes in Missouri (mixed performance)1 single-family home in Memphis, TN (turnkey, positive experience)Questions for the community:What are your thoughts on Las Vegas and Reno as potential investment destinations?

Typically investment properties requires 15%-25% down payment depending if it's a single family or multifamily.

In Baltimore county you also have to get inspections and  many other jurisdictions require a license and or inspection.Baltimore city is not for everyone.