"I'm sorry to disturb you, you may not be the right person for this

House hacking will also give you some personal "property management" experience.

@Ravi KaruturiHello RaviI hope your enjoying the weather down there in Texas, I don’t personally live there but I would love to jump on a call and discuss your situation.

Maybe you use the cashflow to pay down the principal and then use your personal income and savings rate to grow the portfolio. 

- Loan Type and Liability: Implications of personal vs.

I work in and around the Osceola County, Florida area and I'd be more than happy to help out any person willing to learn about how they can grow a passive stream of income.

Lower of cost or market for determining the basis is also the correct way to treat a personal use asset being placed into service for business purposes.

I hold land personally with my wife that I am selling and at the same time I am purchasing my first str.

If you don't want to get your lenders in trouble, pick up a copy of Lend to Live in the BP bookstore for both of you to educate yourself on how to do it the proper way so that it's a true business transaction and not cutting corners just because you know each other personally. 

I played the part, she lost, and it took an extra three weeks to get her out.You can't take it personal or it will wear you down.