As I was answering, Joel gave you other information that I also think is valuable.

So the leverage will magnify your gains 4x as well.Regarding jurisdictional issues on lawsuits, I was told by my attorney that the suit would land in Ohio (where most of my holdings are located) even if I set up the LLC in Wyoming/Nevada/Delaware.

I would build a home, sell it in a couple years and all of the capital gain was tax-free.

My time is too valuable to show homes all weekend.

THANK YOU SO MUCH for the valuable information.

It’s a great community and I’m looking forward to learning a lot from all of the valuable resources that are here.A little background first.

Now I am finding that the people who would actually gain from selling me the insurance, say I don't need it.

If you are considered a real estate dealer, you have a trade or business - the income is earned income, you are not eligible for capital gains treatment, and the property is not eligible for a 1031 exchange.

Time, which I find much more valuable than money.

Capital gains are russian roulette at its worse - lose on them once, and the five times you gained on them may not mean squat.