Being relatively new to this, though, I don't know whether it would actually be a good deal for me (the current owner likely wouldn't accept it either, but I'd potentially be willing to try making an offer if my idea sounds reasonable).

If I decide later to start a construction business (actively building and selling new spec houses), assuming this is taxed as ordinary income with social security, etc and treating the homes as inventory - if you build a house, then sell it, then spend that money building a second one, but don't sell it until the next year, then sell it, then build another, can you effectively push off the taxes as you are rolling the sale proceeds into new inventory costs / construction costs? 

From the sounds of it, I’m leaning on assigning a weight restriction, and limiting the amount of dogs and breeds a tenant can have on my property.

His overall cash flow, meaning his cost of living declined while those of us investing in the appreciating areas where we lived increased our cash flow tremendously.Essentially, his rent increased in NYC while his cash flow for the investment properties outside NYC remained the same.So the overall effects is a decrease in net cash flow.I'm not sure why Investors don't realize that this is a phenomenon that can easily happens and I know it does from that particular friend.For the most part, the other thing that happened with those that did not either invest in the appreciating areas and also did not buy their homes either have become forever priced out.Even if they can barely afford the home in the appreciating area today, they will say it's just way too expensive.

Sounds like you've already took some great steps towards building your financial wealth.

Sounds like you are talking about buying off market deals directly from the seller .

I’m not very familiar with DIG it sounds very similar to the group already there.

You sound more prepared than 99% of other investors.

I see that I was wrong on the Sec 121 exemption for the deceased spouse; upon further research, it looks like there is still some benefit, but that its a bit more complicated to calculate.The 1031 exchange sounds more interesting than I realized.

It’s sounds like you have a lot of good energy.