@Gayle Eisner Simply do another 1031 to a property somewhere else to avoid the capital gains taxes if applicable.

Quote from @Sam Dalton: Starting to manage my property myself for first time, and have started getting applications.

Commerical is a bit tougher based on property types but in most ccases 45 days shouls be the normal turn time, unless its a $20M Hotel that has issues with occupancy, Reserve account requirements, legal pedning issues and more.Hard money is quick and fast and can close in a 7-10 days with the right investor and fast up front 'Complete" application. 

Collect an application fee, require a deposit before move-in, and set up online rent.

Sometimes those automated systems can be a bit too rigid, especially if they don't account for context or nuances in a tenant’s application.

Either way, the income still ends up on your federal return, you’ll just have to file in Texas if your gross income is in millions (probably not applicable to you right now).This post does not create a CPA-client relationship.

Remind all tenants of quiet hours in your lease, if applicable.

@Henry Clark, not exactly applicable to your start of this post but in response to this last reply, do you think its better to build still than to buy existing?

This part of town seems to offer more affordable options while still being relatively safe and convenient for students.The goal is to:Provide housing for our daughter and her friends starting January 2026 (spring semester).Structure the purchase as a primary residence, so we can qualify for better mortgage terms.Include myself, my husband, and my daughter on the mortgage application to strengthen our position and meet the owner-occupied requirement.Convert the property to a full rental down the road once she graduates.We think the $30,000 should cover a 5–10% down payment plus closing costs under the primary residence structure, and the property would serve as both a short-term housing solution and a long-term investment.Would love advice from the community on:Does this sound like a smart way to combine student housing with a first-time real estate investment?

In one he checked the box on the application that said he or no entity he was involved with had ever file for bankruptcy.