I was looking forward to attending, but have had a conflict come up which I can't avoid, unfortunately.

We decided that we're going to try and work something out with him in hopes that he'll understand the situation and its likely outcome in order to avoid any legal issues.

Taking taxes into account when purchasing a building is also so important to find tax savings or like you're saying - plan ahead to avoid any surprise tax expenses.

If it gets late in the year and you're looking to avoid some taxes, look at a passive investment with REI. 

@Susan Maneck - Yes, eliminating your rent can be a huge form of "yield", living in your property gives you huge tax incentives upon sale and in New York you would rather avoid anything over 4 units due to rent control and rent stabilization complexities as a newbie investor.

I read up on the 1031 exchange to avoid paying taxes now on the return, but only was able to find that it applies if you sell a property.

Nothing against lawyers, but if I could avoid them it would be great to fast track the process on my own.

I was thinking I'd probably be wise to use an LLC to do this in order to avoid personal liability, but other than that what do you think of this idea?

Its much easier to spot deals locally, know the best areas and trends, and avoid property management fees and troubles. 

I have 20% to put down but would rather not if I can avoid it.