This could be a great way to get started as you'll be at the property everyday and by living in the property not only will you be there firsthand to oversee the work being done, but you may also find new potential issues while living there.If you're looking to do this, I'd recommend a 203k loan to purchase the property and get some rehab funds. you'll just need to live in the property for a year before being able to lease it out to a tenant.

Potentially turning into section 8 if there is tenant turnover.

There’s so much potential in real estate, and with your experience, I’m sure you’ll hit the ground running.This is an amazing community to connect with like-minded individuals and learn from others who have been where you are now.

Make sure you have the deal dialed as you will be selling the deal and yourself as the investment to these potential partners. 

We respond to inquiries, but if someone did the things you suggested to try to track me down instead of following the advertised protocol I would disqualify you as crazy or a potential stalker or just high needs or high maintenance. 

I would love to hop on a call soon and discuss potential ways of collaborating or creating a win/win situation! 

The trade-off is losing out on potential growth from a reinvested 1031 exchange, but if you’re thinking about a HELOC later to invest again, this could bridge the gap.What I’d do in your shoes:If it were me, I’d run the numbers on a worst-case scenario for each option.

Alternatives to ConsiderIf you want to involve an entity for liability protection or other reasons, here are some potential approaches:Assume in Personal Name and Transfer to Entity:Assume the loan in your personal name and later transfer the property title to an entity.Important: Transferring title may violate the loan’s due-on-sale clause unless explicitly allowed by the lender.

The reason being they did not want to be caught in a lease and have to deal with potential lease issues down the road.

Plus for its high cash flow potential, utilizing a 1031 exchange to reinvest gains effectively made this experiment a relatively low risk for me.