@Zach Schaphorst thank you so much Zach for the story, it's sometimes better for me to hear from personal experience to gain some confidence and insight.

What a few of my successful investors have done to get started BRRRRing was complete a couple of flips to gain capital and leverage those profits into other properties.

This would allow you to start investing in real estate AND avoid the capital gains tax on the sale of your business at the same time!

I noticed a pattern when paying my taxes the last two years and it seems like I’m paying state income tax in two states from long term capital gains of stock sales.I live in CA (since 2013) and have a rental property in CO (purchased in 2011).

And perhaps one of the best parts, is that if you live there for two years, you can sell without paying any capital gains tax. 4.

In my time off I've gained a much better knowledge of things to look for as well as constructions knowledge after renovating my own house.While I'm open to any opportunity, I'm mostly interested in the Monmouth County, NJ area.

“Competitive advantage” is closely tied to local market knowledge.Research, investigate, and visit several markets.Pick one or two and then become experts in the chosen markets.That’s how one can gain an edge.

@Mason DePeal If there isn't much room on the rental side and you've lived in the property, it may make the most sense to sell off to take the primary residence capital gains exclusion when you sell. 

My net gain on it is still incredible, so no worries on income!

The management company would carry the liability and since it has no assets, there isnt anything to gain from a lawsuit.