I will definitely keep my eye on the crowdfunding real estate sites, unfortunately I am not yet an accredited investor... hopefully those rules will change in the near future.

I have been doing some reading on it but I would prefer to talk with someone who is doing it to get their perspective on several aspects of it including ease of purchase, maintenance, tax issues, foreign ownership rules, entities, etc.

If you have had these properties for many years, then a 1031 might make sense, but then you have the ownership issue to deal with; 1031 exchange rules basically require the owner of the replacement property to be the same as the owner of the relinquished property.

Also, if an association can gather enough owners to vote for it, they can change rules even after you buy (changing from allowing renters to owner-occupant only) and hit you with special assessments, so associations are scary.

Tampa Bay rules!

I was wondering how you got past the 50% generation skipping tax and the vest within a life in being and 21 years rule against perpetuites?

If you do not pay utility and water then go 50% costs so the caps and prices would be slightly higher.At 250,000 you were right at the 1% rule for rents versus purchase price which is not great.At this point you say you are bleeding almost 6,000 a year just to satisfy the note.

All the concepts, rules, guides, experiences, etc, that I learned from my studies were now in-play in a real world scenario.

Seems a waste of time since I'm doing the work, but if it's the rules, it's the rules.

After you have 4 mortgages, it's almost impossible to cash-out refi an investment property with conventional loans unless you're using delayed financing rules on new purchases.