@Haider Abdullah I was in the same boat as you, here's what I did.Rent a single family 2b/2b house in Northwood in Irvine, for $2800-2900/mo, which is like $7200/year less than you've listed.Save that cash and buy a house in a more affordable town (like Aliso Viejo, Lake Forest, Mission Viejo).

I was thinking of doing a 1031 exchange and buying a SFR that where I will add square footage or do a land+construction project and then 1031 into a more expensive property and rinse and repeat.

My bet too is that there are some people selling their Edmond home to get something bigger in the Oklahoma City area or just downsizing and living a more minimalist life.

I am now at the point where I rather buy a condo or small house with potential for sweat equity to live in, while I invest in OOS TK properties like memphis invest.I really don't see a way to invest in my local market unless I win the lottery, join a company that IPOs, or partner with another investor to get into a more expensive property (I would prefer to have a few investments under my belt before doing that).

., and am now aiming to do some geo-arbitrage/house hacking/BRRRRing with an FHA-eligible multifamily property in a more affordable locale.

I don't want to buy a more expensive property just to get a loan.Thank you!

Purchase price $140,000,5% down= $7000$133,000 amor. over 30 years @3.75% with a balloon at ten years.Monthly payment @615.94 for 120 months is  $73912.80What would the ballon payment be?   

It would help tremendously if someone could validate what I am being told or straighten me out with a more accurate assessment of this particular situation.With that being said, question #1 is should I just forget trying to bring the properties into the LLC?

Most move up to a more passive niche. 

Is an active operator with less experience, but a strong deal, a better investment than a more experienced, 'mehh' deal?