It would be a good material to start with.

You will have a lot of educational materials and books to read. 

@Frank Sanchez, I'm not the biggest Kiyosaki fan myself, but I have listened to enough people far more successful than I am who took life-changing risks as a result of reading his material and are in a much better place today than they would have been had they spent the next 30 years in a cubicle and contributing to their retirement plans.For others, of course, Kiyosaki's message led to a path of ruin.  

However, you want to calculate carefully because if your basis is 200K then you would pay the tax on all 200K of profit so there would be no benefit to the 1031.One possible alternative might be to use the entire amount in an exchange and sell for 400K and buy for 400k (thus sheltering all the tax).  

@Brandon Clymer there are alternative programs out there, but the more flexible terms only apply to commercial properties, or habitational properties of 2 or more units. 

I need to purchase a lot of finishes for a job. I want to get a credit card that can offer the best rewards for what/where I'll be spending (i.e home depot, ect). Right now I'm just using a cash card, which offers not...

After reading plenty of material, I never came across people discussing taxes and LLC regarding buying and holding properties.So if I get this right, you would collect your rents for one year and when tax season is on, you would have to prove what maintenance, property taxes, insurance, P&I cost you in order to get it deducted ? 

I've been following BP for a while and have listen to about 65 podcast so far (All great material Thanks Josh and Brandon) I am here to learn and offer any advice I can giveThanks

My existing contact has increased the closing costs so I am looking for alternate options.

It would be a good material to start with.