So, by buying it for less than market value, you might be causing yourself excess capital gains taxes later on.

Or you can refinance the Wyoming property, pull the equity out that you have gained through 3 years (or whatever time on station) of ownership and use the extra money for closing costs, etc on the Savannah purchase. 

Also, if you have advice for someone like me who is looking to increase their deal flow and eventually gain financial independence/early retirement, send it my way.

I am trying to gain more knowledge on the subject of partnerships and could use some advice. 

Following for insight. :)

If you want to manage a new business that you have no experience in, sure start it up. either way you better pay market rent to yourself or else you won't realize any gains in your CRE--which is why we are all here in the first place.

If you live in a property as your primary home for 2 out of the last 5 years and you sale it, you do not have to pay taxes on the gain up to $250K for a single person or $500K for a married person. 

I know I can ask my tax accountant, but wanted to get a general feel for what I am thinking of doing.This home was my primary residence for 3+ years then it became a rental for the past 1.5 years.How does the capital gains tax work?  

Thanks for the insight, very helpful!

Hopefully after all the hard lessons learned and knowledge gained from the first property, it won't take another 5 years to get our third.