I also highly recommend to any entrepreneur, real estate or otherwise, to put Kate's Take on their essential must read/listen to podcast/blog to learn how to make Specific Measurable Attainable Relevant & Time-bound (SMART) goals.

Unfortunately, inventory is specifically excluded from being part of a 1031 exchange.There are other tax strategies that you may employ, but that one to defer your taxes will only really work with buy and holds.

Fairly new to BP and have a question for those who may be familiar with converting a Legal 2 family (multi-family) home to a Legal 3 family home.Does anyone know what is the process for doing this conversion in NJ (Jersey City) to be specific?

In this scenario the owner collected marginally higher rent and probably had less maintenance responsibilities than a traditional rent agreement. 

I dont know any specifically but get emails all of the time offering no seasoning loans

Call Service - check out Pat Live or Voice Nation. 24/7 call services with options you can build it for routing calls to specific people, or taking a message and forwarding to your email.

A lease is a very important part of landlording and it is smart for you to start with one that is KY specific.

@Garrett Elmy what part specifically in the DMV are you looking to make a purchase in?

Because we do it this way, we can sell the properties for a little over market value, we don’t have to pay realtor fees, we don’t have to pay concessions, and the tenant pays down our mortgage for a few years which increases the margin, and then we cash out.

Our house is in Spring, Tx and with the growth that's been going on in Houston, I really think the long term housing market is pretty solid.Monthly Expenses:Mortgage Payment - $1,042.85 (Includes P&I, Insurance, and Taxes)HOA Dues - $45Repairs/Maintenance - $257 (Roof, HVAC, and Water Heater are from 2016 - plumbing is all galvanized)Property Management -  $160Total Expenses - $1,504.85Estimated Rent - $1,600It's a pretty thin estimated monthly margin of $95.