There could be tax benefits in waiting a few years for the bulk of the money.

This growth is fueled by an influx of new residents, particularly from out-of-state buyers attracted by the area's affordability and lower property taxes.

#1031exchanges #taxes #capitalgains #planning #myths

Would love to partner with an experienced investor(s) here on a multi-family investment deal or something else that produces an income. 

If I can borrow money at 6% and invest money to make 20% plus I would do that all day long.2) Without leverage you are setting yourself up for paying more taxes because your depreciation expense cannot fully offset the cashflow. 

For the income to switch to Sch C reporting, you also need to offer services similar to that which a hotel might offer such as daily housekeeping, food/drink, and potentially various other amenities depending on how you'd like to qualify.What you describe is simply changing property managers, it doesn't really matter whose name is on the AirBNB listing.

My wife and I are thinking seriously about investing in Mexico, somewhere that is a vacation destination where we could go once or twice a year that will also have the potential to bring in healthy income stream.

My W2 income was enough to cover anything if needed while I was starting.

At the time of purchase my taxes were just about 10k and now my taxes have increased to 14k.

However, as a millennial with only 80k in income actually moving into the property and claiming NY residence would have been financial suicide.