Broaden your investment tactics beyond the BRRRR approach, consider purchasing and holding properties, and evaluate your tolerance for risk and long-term investment goals.

Your gain and tax is determined by the net sales price ($240K ish) minus the adjust cost basis ( your purchase price plus capital improvements and minus depreciation).A bigger concern though would be that if you are wanting to do a 1031 exchange you probably should not refinance right before a sale. 

You’ll get clobbered because big ticket items needing to be replaced and occasional updating or make ready turnovers between tenants will cost you many thousands.

Also, I know you're not into a conventional lender, but @Jeff Chisum is very helpful for purchasing STR as a second home loan.

My childhood home was purchased by my grandparents as a rental property around 30+ years ago.

I purchased that commercial property in 2021.Thanks for the insight on the tenant/landlord laws, I have a lot to learn on the property management side and will diving into all that very soon!

I would like to begin by purchasing a duplex or else house hack. 

Next lure in novice investors with promises they can replicate your success with little or no money when in actuality all you have to do is teach them how to buy low barrier single family homes and they will be appreciative because they don’t know any better :) All jokes aside, if you want to mentor/ coach obtain a real estate license and help investors purchase investment properties as you continue to learn the business.

Purchase price: $260,000 Cash invested: $5,000 This was a short term lease option agreement to help the original owner get back on track with monthly payments and upgrades.

I'm looking for a property to purchase in the Cape Coral, FL area.