I am now in a contract position as 1099 and have the option to fund my own Solo 401k up to 55k, which is amazingly awesome compared to most employers just providing the individual limit. 

Hey BP Community,We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?

Hey BP Community,We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?

Decide if your lifestyle allows you fulfill the responsibilities of landlord, and then compare the ROI of keeping the condo vs. a different investment vehicle.Good Luck!

If you're buying with cash you may be able to get a higher return by owner financing, compared to renting.

I would be curious as to what part of town your property has sat for the last month and see how it compares to nearby comps. 

I know that the equity is the most important factor, but if the ROI is great, and the purpose of the Sub 2 is a long term buy and hold strategy shouldn't that make the formula more flexible, since the equity would build faster with a higher ROI?  

It deters Out of State investors as myself..Im from NYC so everything is relative, even though both cities are very competitive I still find them manageable compare to my local market..

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Someone familiar with the area and flood plain maps should be able to compare the maps and various online resources (google earth) and have a pretty good idea if it is in or out.