Also, you can find local vacation rental companies in just about any good STR market who should have the ability to give you market level data.

You can personally visit these sites and see how your competition is doing and then there are paid sites like AIRDNA who provide some level of statistics to help you out....

Some of this depends on state laws, your level of skill, and the judicial system.Yes, you should have a penalty in your lease agreement.

Instead, I want to grow the basic knowledge to a more professional level and then eventually have my CPA designation work for me. 

Instead, I want to grow the basic knowledge to a more professional level and then eventually have my CPA designation work for me.

The downside to that is in a economic downturn residential rents could flatline or decline.NNN is more security and constant whereas residential can be more cycle timing for returns.At different levels it varies how people view things.I have a lot of clients making 7 figures plus annually with job or business or already have super high net worth.

I have a 3 bdrm 3.5 bth 3 level town home that suffered a heavy loss fire in May.

The property being sold is part of a previous 1031, which is where my question lies...Here's the scenario at a high level (using hypothetical numbers).  

@KJ ChenCapital gains tax rates at the federal level are either 0%, 15% or 20%.There is also a Net Investment Income Tax(NIIT) of 3.8%At the state level, Missouri tax rates range from 0% to 5.4%Best of luck

Certainly, though, there are levels of management that you might be involved with.