If you have already been using that land for investment purchases - share cropping, logging, hunting, etc then you will need to convert a portion of that from investment to your primary. 

@Jackson Cook, If you decide to rent out the property, as you mentioned, you would have three years to take advantage of the primary residence exclusion and not pay tax up to $250K ($500K if married).If you decided to rent out the property longer than three years, you would no longer get the primary exclusion tax-free, but since you would be converting the property to an investment, you could do a 1031 exchange and defer all the tax.And if you rent and then sell the property within three years.

I’m wholesaling out of Manchester, NH, and my long‑term goal is to build this into a full operation and eventually transition out of property management into real estate investing full time.​Staying on topic, you mentioned that if you’re hiring callers, it becomes a different conversation, which makes sense since they handle that initial screening.

Hi Joel,The house‑hack setup with your son on the loan usually lines up better with both financing and practical goals than treating this as a pure investment property while they’re in school.Compared to the alternative, house hacking means (1) cheaper financing, so you can keep more cash for reserves, repairs, etc. (2) future exit option of converting the property to a full rental.

If Bigger Pockets was a religion, you could say I have been converted.

It passes everyone by - we all eventually die.

The higher rent growth property will eventually have the better cash flowNow look at the same argument for appreciation….  

The collections vs scheduled and delinquency tracking as a daily/weekly focus makes total sense.To answer your questions: I'm at 4 doors right now (3 LTRs plus a loft I just converted from STR to MTR), so I'm nowhere near your scale yet.

I’ve always been interested in the industry, but I’m finally taking the first steps to learn about it seriously.My goal is to build up my knowledge and skills with the hope of eventually turning real estate into a full-time career.I’d really appreciate any tips, resources, or advice from those of you who’ve been doing this for a while — especially on how you got started, what to avoid, and what helped you most early on.Looking forward to learning from you all and hopefully contributing as I grow! 

How about the increase in home insurance once converted to a landlord policy?