In the right circumstance you could end up as your own opportunity fund and have also benefited from the full tax deferral of the 1031.A 1031 can be scary with it's tight timelines. 

My family (parents and I) would like to purchase our first home primarily for more living space and with the assumption that in the long game, a home [and the land that comes with it if it's a single family property' will only appreciate especially in the southern california area where the population is already dense.I've heard on one episode of the real estate podcast that we should have exit strategies - the property should be able to be a rental, be flipped, or one that we are fine with living in until the market is at a good place where we'd like to move onto a new home.What strategies would you advise a first-time home buyer in buying their first home - do you use a checklist?

I would also insulate the heck out of the space while you are down there (I'll assume this a crawlspace) just to be on the safe side.

Doing that was the only thing that has reduced the smell, so I'm 99% sure the smell is not coming from the finished space. 

Hi there -Looking into Denver, the unrelated persons regulation for a single family home is extremely tight - two unrelated peoples.

What about office space?

In my experience the first few properties tend to be spaced quite far apart time wise and then as you acquire cash flowing assets and the confidence that comes with experience, the speed of acquiring additional properties increases.

You want to start by educating yourself on the space itself, types of properties and markets your interested in developing In.

You need to educate yourself on the space and the market.

I am NOT a professional in this space yet, and I don't play on on TV, but I have listened to about 50 podcasts on this subject and I hear that a well-run MHP with all lot rentals on public utilities should run in the 30 - 40% expense range.