Sure, managing what you've got is important, but without a deal, you're just spinning your wheels.Now, when it comes to buying up properties, multi-family ones are a whole different ball game compared to single-family homes.

If he had to it would be a lot different...

It's no different than buying a list, but it's automated.

You simply pay tax on the difference. 

Mid term rentals tend to be listed on many different sites so I would also recommend looking at Airbnb/VRBO for 30+ day stays and Zillow as well if you haven't.

You have learn the difference between an asset and liability then do the market research necessary to find/buy/create them.

For me, I still have about 15 years till I get to that point, but my portfolio will be more diversified across different classes .

.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

The Attorney / title company then disperses the money to all the different parties.

This would be the difference between their existing incomes and what the cost for the ALF would be.