So if both sides are about the same size, roughly half of your gain could be deferred, and the other half would be taxable since it’s for personal use.Later on, if you hold the property for a while and eventually convert the whole thing to your primary home, you might be able to combine the 1031 rules with the home sale exclusion under Section 121, but that takes careful timing and planning.It’s definitely worth mapping out before you sell so you don’t miss any opportunities.

Without significant apprection that could allow some extraction of value, the negative cash flow on some of these purchases at some point will go through most newbies reserves forcing a sale,   They are adults and made adult decisions and took adult risks.  

They may charge you (at your age, I would not suggest paying for a mentor), or they may expect you to work for them for little or no money...if they expect you to work for them, they usually will want you to bring some proven experience and skills to the table that will benefit them--but at 19, most people don't have much experience to offer (that's not your fault, it's just an inherent part of being a young adult)....but don't worry, because even if you could find a mentor right now, a mentor might not even be the best use of your time at this stage...In some cases, a mentor might actually get in the way of your success (especially if your mentor isn't well-matched to your style, interests, goals, etc).

We focus almost exclusively on holding non-performing loans, but we also own an NMLS-Licensed mortgage company that originates loans.

She was only at the meeting because she was offering an exclusive business opportunity with unlimited potential, and asked if she could buy breakfast and explain the “opportunity”.

I also need a separate application filled out for each adult. 

Sometimes an adult would come and coach a little, just for fun.

I require a lease to be signed, require a background check of all adults, require background check fee and am transparent about it all. 

Over time, that house has filled up with five working adults, which caused the rent to increase quite a bit.

For my entire adult life, I’ve focused on wealth accumulation.