First Born Fees, The Fee Fee, etc.All of the fees are increasing the amount of money a flipper has to bring to the closing table and aren't helpful.

Generally from the day you purchase a property through the day you sell it (in a taxable transaction), you'll be taxed on your net accretion of cash flow over that time period.The timing of when income is taxed is likely going to be much different than when the cash flow is received though. 

I purchased my first investment property in NC (previously properties were in California).

He now spends 1/3 what he did the first 2 years as his name is well established.  

We are officially under contract for our first property - a SFH in what I would gets is a B-C type of neighborhood.

However, they might not appreciate as much over time, and the market can be a bit more unpredictable.Ultimately, your choice depends on how much risk you’re comfortable with, your long-term goals, and how involved you want to be.

Do the tenants typically pay on time or are tenant problems common? 

First of all congrats on retiring from the AF, that is no small feat. 

There was $700,000 of depreciation leftover at the time of the exchange (aka “carryover basis”).

While not as dynamic as the post-pandemic boom, key indicators suggest positive momentum is building.Vacancy Rates and Demand: U.S. multifamily vacancy rates declined for the first time since 2021, with the Sunbelt region leading demand.