I plan on doing a cash-out refi to get that tax free money back outI'm not doing a 1031 because I'm moving to Georgia after this sale and have a lot of other moving parts to think about.

The plan is to get the home producingincome and then begin dividing the 20 acres into building lots.

Purchase price: $519,995 Cash invested: $519,995 Sale price: $610,000 My plan was to invest in a new construction 3 bed, 2 bath house and rent it.

It's also worth revisiting the scope of the renovations you're planning—are there areas where you can save without compromising quality or appeal?

I do floorplans for all my properties 

Purchase like so, use 401k loan to rehab, then rent and refinance is the plan that I am considering for my first property.

Charles,I like the idea of deferring taxes until death :lol: I plan to enjoy the mula while here!

We have cleaned walls and floor joists before but it was just surface mold.

I don't plan on dominating the niche haha, I want to scale to bigger properties, but I want to gain experience first.

We can go there and have a look anytime before then, and I can send EMD if everything is as I planned.