Quote from @Michael Smythe: @Jerry NoguerasRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I started with a house hack then purchased my own rentals/BRRRRs and now I own a successful 7-figure rental portfolio.

-------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The last house I purchased was $227,500 and we put down $85K. 

Can you easily find cash purchases close to the property and things like that?

Im a firm believer in purchasing rentals.

I'm a fan of using the HELOC to help purchase new property.

@Ricky Rigsbee - I use the Michael Blank SDA and think it's extensive enough for modeling a purchase with or without syndication. 

I've purchased about 10 properties for myself and have always use my own broker.

The property that you sell and then purchase through a 1031 Exchange must be held for rental, investment (capital appreciation), or used in a business.