I was fully prepared to go to Memphis and take over the project because I was left in the dark.

Considering STR (short-term rental) or MTR (medium-term rental) is smart, but also being prepared for long-term rentals (LTR) is key since markets and regulations can change.Fourplex vs.

If anything, hopefully my opinions here can be taken as food for thought, and lead to questions to ask of the sponsor, to obtain facts from which a decision can be reached. 

The swift execution highlighted the value of preparation and timing in profitable real estate investments.

It's not the most exciting part, but future-you will thank present-you for being prepared.

Be prepared to defend it if the stuff hits the fan.4.

Lots to think about and prepare for.

@Josh Hollman To tackle your $100K credit card debt and prepare for a second rental, consider using a HELOC or Home Equity Loan on your primary residence to consolidate the debt at a lower interest rate.

Additionally, I don't believe Form 4797 should be generated for this transaction.Please confirm that, for reporting a 1031 exchange from one residential rental to two residential rentals, I need to prepare a separate statement and only complete lines 19 through 25 on Form 8824.

Just food for thought from a friend who owns a larger development company...