@Brandon Phelps , by doing a 1031 you won't have a lot of time to identify properties, so If you want to run the business, you could get a package of properties that all together are valued at at least 1.2million, or buy one property at that price that will give you great cash flow.

If you’re interested to take a peek at my underwriting and current and future deal packages, feel free to PM me so we can block some time on my calendar and talk things over.

If you buy a pre-packaged product, you can't change any of it's processes, your stuck with it.

I know I looked at a package of properties to purchase over the weekend and the landlord we met with insisted that he ran a tight ship and said all his tenants were current.

The problem you may encounter is this will eat into your profits given the small scale.I know what mean about the challenge of going after a "turnaround project" that is remote...  

Stories and stories about his airplane experience, some examples about pre-foreclosures and foreclosures BUT only would work as he says if you get his Diamond Package, otherwise you won't have access to it.

Do you have the time and skills to source the property, perform a successful rehab, and get a good tenant in place, or is that time and knowledge better just bought in the property package?

While the property may not still return 20% cash on cash, it would not be losing money on a monthly cash flow basis (hopefully..)But I think that is lazy and irresponsible, especially if you own anything more than a property or two.So I generally try to run what if scenarios on each property and then subsequently run what ifs on my larger portfolio to make sure that the portfolio can weather any economic storm that may come through.I have only been in RE for a few years and didn't gain the experience from 2008 so my question to the group is what scenarios do you test or have you encountered? 

Also this property was packaged with the property next door that is also a duplex that we will be turning into a triplex.

Is this a question you guys encounter on investments, and if so, how do you get as close to a solid answer as possible?