Over the past few years, I’ve been intentionally studying real estate through books, podcasts, and hands-on learning, and I’m committed to building a solid foundation before scaling.I currently own one rental property, which has helped me gain practical experience with ownership, tenants, and cash flow.

Fair point, and I understand how it can be read that way.The intent wasn't promotion, I'm trying to get operator-side perspectives on what's actually closing in the current market, not just what capital sources say they are doing.

That’s worked well, but as I look toward the next phase (and eventual retirement), I want to intentionally shift from appreciation-driven growth to stable, income-focused investing for retirement income  I’m considering deploying ~$2M to buy 4-6 properties in all cash.

The IRS looks at intent, and fixing issues to make it rentable supports that.

IRS looks at intent.

Important caveatA thoughtful, experienced human could absolutely write this especially someone intentionally trying to sound professional and neutral.

I don’t have a lot of capital to start with, so I’m trying to be intentional about choosing the most realistic strategy from the beginning. 

Any exchange proceeds you don’t reinvest, or any reduction in debt compared to the relinquished property, can create boot unless offset elsewhere.A common approach in a two-property exchange like this is:Use exchange funds as equity across both acquisitions to fully absorb the $600kFinance where leverage improves overall portfolio flexibility, not just simplicityPaying cash for Property B can make sense if:You still deploy all exchange proceeds into replacement propertyYour relinquished debt is adequately replaced across A + BYou’re comfortable that any later refinance is clearly separated in time and intent from the exchange (to avoid IRS scrutiny)One thing I’d be careful of is sequencing.

It is clear that he has no intention of leaving any time soon.

Ago without the intention of renting when I move.