A realizes gain of $280,000 on the exchange.A's exchange of a principal residence that A rents for less than three years for a townhouse intended for rental and cash satisfies the requirements of both Code Sec. 121 and Code Sec. 1031.

Went down three times a year and let others pay for it. 

Regardless of how you find them, try to interview at least three managers1.

.*** I have been browsing these forums and binge-watching YouTube and BP Podcasts for the last ~4-6 weeks and my wife and I are both on board to try our hand at real estate investing.I believe I have found a deal that works for us, but would love the opportunity to talk through it with someone who knows what they are talking about before pulling the trigger, because it seems like it is a bit outside nearly all of the examples I have seen other people describe as their first deals.The property has a house on two and a half acres that also comes with three rental cabins (they are currently being used as short term rental units).

My issue is that I live in the SF Bay Area (very expensive) and I'm here for the next three years until my daughter graduates high school. 

To give some background, she has been renting for over three years now.

Buy a three flat and get your tenants soften the blow. 

This would require three and a half percent down but it would fund the renovations of the property.

I'm also looking to keep this between LLC's, and couldn't seem to get a sufficient answer from the lawyer I talked with.

The home is in Wisconsin, and is a three unit producing 1900 a month in rental income.