The answer largely depends on your other skills you have, but the bottom idea is:- Buy & Hold -> SLOW train to your investment velocity (more about that in a second)- Fix & Flip -> Fast train to generating capital.Now, the TLDR part follows:You want to apply as much leverage to your cash as possible, that is, get a lot from lenders and here you put your credit score as asset to help you get more cash.

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

the real question here is the velocity of your $$$.

In fact, because of the slow velocity of assets in this size class you should be able to mitigate some of the time issues of a 1031. 

And along with that comes write offs and velocity.

I'm biggest concern about out of state is the slow velocity. 

If your career keeps growing, you can increase your REI velocity. 

I also am going to break it down by quarter so that we can see some velocity and see where the market might be going this year.

They take positions with liens but ultimately their goal isnt to own a REO but rather to keep the velocity of their money churning so they can get paid a huge spread and relend it out again. 

You watch how they do it and they get paid a fee.Before buying the land you would want to make sure your site plan gets full approval and you have LOI to Lease tenant  velocity for a majority of the project.