With the 1031 exchange you must purchase property that you have the intent to hold for productive use.  

What kind of financing products does your team have? 

Keeping your costs low by choosing investments with minimal fees will further enhance your returns.

It should apply, as a veteran myself, I have a soft spot for other vets using their VA loan to get started in real estate (it is how I got started, and it is easily the greatest loan product available). 

I know this thread is from 10+ years ago, but has anyone used this loan product? 

There's nothing wrong with buy and hold for cash flow, but I believe strongly that with enough knowledge and experience, one can accelerate and enhance building an estate utilizing "creative" strategies, all without taking undo risks. 

There is a product you can use on flooring that works well (rejuvenate)-try that first.For most things it is the actual cost (eg cleaning) or depreciated value (eg flooring replacement). 

Repairs generally include work that maintains the property in its original, operating condition without significantly enhancing its value.

On the other hand, I cannot ignore the folks here marketing their DSCR HELOAN products; that number has increased.The underlying situation (obvious to you and me) is that there were historically low interest rates, followed by inflation and equity creation...and folks who want to tap into the equity without displacing their first mortgage. 

Credit unions lack product selection and lender experience.