.* The house could sit on-market a while, meaning the PM doesn't take a commission for 6-9 months on that project. 

Hi Latif, I will be the first to say that I'm relatively new to this, but have spent the last 6 months deeply educating myself through local RE investing clubs, Fortune Builders, BP and other blogs and podcasts, and many books.Generally speaking, the only house I'd recommend paying down is the one you and your family intend to live in for the next 10-20 years.

I was told by the bank that I couldn't do a 1031 because it's a primary residence, and 1031 are only for investments.But I also don't want to sell and lose 20-30% on taxes (lived in the house for 2 years)What's the best route?

I was doing a lot of legwork and still paying RE agent for the transactions up until got my own license.pros: no commissions in your transactionseasier qualification as real estate professional to offset high W2 of spousecan get access to any house/ easy logisticsmore control in the transactionMLS access with all the information on tip of your fingers, you can move fast with the deallicense knowledge helps to make better decisions and gives broader understanding of the industrycan legally do property management for others, wholesale (many states now making outlaw to do it without license)cons:need to take an exam (it needs preparation and to be good not just barely pass you need to study)fees you pay along the way (MLS, brokerage(I signed with investor-focused on and have a monthly fee and a transaction rate))self-management including taxes and feesneed to relicense + paid education Don't forget the biggest con.

Purchase price: $260,000 Cash invested: $80,000 Sale price: $380,000 Purchased this house from the family of elderly lady that lived there.

People do not sell houses or properties like they are a commodity.

Hi, I'm looking at house hacking, but not sure all of the rules.

I want to wholesale at one house in 90 days. 

Lack of housing in the town.

Have a bunch. key piece is are you doing it in your personal name or in an LLC with a commericial loan.