Or is this basically a sign the deal is overpriced for today’s rate environment — and the correct move is wait, change market, or require better rent-to-price?

They just want to convey the basic reason the exemption exists at all. 

Note I've done a bunch of reading I know the basics (have to buy in a certain amount of time, like exchange, etc.).

Bought our 1st in Mar 2024 (3 bed 2.5 bath 1182 sq ft) and 2nd in Sep 2025. (3 bed 2.5 bath 1384 sq ft)1st is across from Las Vegas High School in Sunrise Manor. 2nd is 5 minutes from Centennial Hills Hospital.1st rents for $1700 and 2nd for $1850.1st one we basically had to evict in Feb 2025 for lack of payment.

I’ve had basic court searches turn up things that never showed in a report.These days I keep it simple.

Sound like the perfect time to learn the ropes — local Birmingham landlord-tenant laws, property management basics, financing options, and rental-ready upgrades.

Basically, the days of apartments running 100 amp service are over.

@Kerry Baird in Texas all sold information is not disclosed on a property not even price per square   foot is displayed on Zillow/realtor.com I have been running analysis basically on property that are for sale to get an idea 

If it is reperforming then add 2-4 percent to that.If you create your own loans, basically you are private lending/hard money lender.

I think starting with these basic questions will give them a clear picture of what’s realistic and help them line up the right lender before they find their first deal.1.