I found BP about 21 months ago while recovering medically and looking for something that is more flexible than a typical job that causes you to work 10 to 12 hours a day without being paid any overtime.I was forced to be that way in the early 1980's when I had graduated from college.  

Go to Zillow and search for rentals, see whats currently listed, look at how long they have been listed, has the price been reduced over that time, etc.

Not the best deal at those numbers.Can you negotiate the price down a bit, or maybe reduce the repair costs somehow?

It also helps eliminate/reduce the risk involved in 1031 Exchange transactions because you have already closed on your Replacement Property.

In other words, it is a good long term investment vehicle not one for reducing your taxes now unless annual contributions are made. 

He has since written a book about small apartment complexes, has gotten rich, and now teaches class to show you how to do it.I found BP about 21 months ago while medically recovering and looking for something more flexible than a regular job since I was getting older.  

If I have a fairly new portfolio in higher-end areas paid off, I'd probably reduce the proportional amount of reserves I keep.

If say the goal is to reinvest those proceeds into Buy & Hold, how would one structure where to hold the money to reduce taxes?

So, typical options are:1) Come to closing with the cash difference2) Do a different appraisal3) Walk away4) Seller reduces price to appraisal amount (sometimes the seller will but not always)

You should be able to take usual and customary deductions to reduce your tax exposure and still use much of the income you receive  for a loan.