There is a catch - the couple wants to 1031 the funds into their sons next larger project which is TBD.

Not sure if this appeals to youJoint Ventures: Partnering with a larger hospitality group or another investor might not only bring in funding but also expertise and industry connections. 40% of a deal is better than no deal.

One of the larger ex-pat directed real estate investment communities here in Japan targets all-cash buyers. 

This is where I would focus, as these are the same attributes that attracted those responsible for the larger projects like the Bellweather District you mentioned in your initial post.With your budget I would recommend NW Philadelphia (Germantown and Mount Airy in particular).

See, the majority of profit in real estate is NOT made by below market purchases.  

This sounds like a home run and a great first purchase!!

(The difference in rate depends on the deal structure, e.g., the ratio of rehab dollars to purchase price.)Like a HELOC, you only pay interest each month on the loan.

But @Garrett White and I are shifting our focus to larger unit count properties.

My wife and I have a vacant lot in Tallahassee and we're looking to use the current equity to exchange for a larger single family investment property.

My accountant wants me to start doing this in the event of an audit being I’m starting larger projects and will be implementing cost segregation Thanks