I never had much confidence in them so I only wrote their lease to last until the 28th of last month.

@Dave Foster can tell you for sure but I believe you’d be okay on any “gain” realized from the sale of the replacement property but you would still of course owe taxes on the gain from the sale of the first property, that were deferred.

Increase your knowledge, experience, then confidence - go for it afterwards... get as many as you can handle or create a automated system to handle for you.

The combo of rising unemployment, reduced inflation and stalling consumer confidence is lowering yields on the longer end of the curve. 

My husband and brother both have extensive backgrounds in construction, while I have experience in design, so I am very confident that with the updates we would make, the house could be worth over $900k.

@Dave Foster thanks for clarifying the 1031 exchange.

But if you MASTER one thing at a time and make that a HABIT then it will build confidence and momentum to tackle your next habit.Thanks for taking the time to read guys!

Find an investor-friendly agent in your area — some RE pros specialize in foreclosure, so if after research you're confident that that's the way you want to go, I would find one who can work with you and help guide and represent you in your next transaction. 

I have been appreciating the Bigger Pockets wealth of information, and in fact has been a key resource to bolster our confidence and continue making strides towards more investment property.

3-$12k for a reno is very light are you confident in that number?