You can cheat/gamble when you've got the cash and experience and still want to, but I wouldn't recommend it on your first one. 

I'd much rather invest for a 1% rule with the help of people I know and trust. 2% rule is not worth the gamble, if you don't have a team.

If I am having difficulty finding similar buildings in characteristics to the prospective building should I expand my limits on the region I am including?

Most of the HOA bids I see, where the mortgage foreclosure has not started, or recently started, equal 1 1/2 to 2 years of rent....doesn't seem to be a good gamble.

This is a very important piece in itself, that you would have to gamble on.

I started working in a bank and I started to notice how common characteristics wealthy people have when it comes to managing their money.

At best it is a business you actively work and at worst it is gambling.

Up until that time, it can be a series of gambles or an expense depending on the demand for housing and your screening criteria.

I've been thinking about contacting an attorney on this, but it's a gamble.

Rather, the determination of whether or not the replacement property constitutes like-kind property will be based on the similarity of the lessor’s interest in the property, in such characteristics as the management and tenant requirements.