I agree michael about the rentals as far as fix n flips, problem with that is most dnt know where to get deals, everybody looking in the same places.

They currently own a 5 br/2ba house in which they rent out but on the same property they have an apartment building in the back 2 br/1ba and on the top level n probably can turn the bottom level Into 1br/1ba.

Amit - thanks for the post N Seattle / Greenwood  likely has lots more appreciation in the future IMO due to 1) relatively close proximity to downtown    2) future increased transit  options being  built presently ( light rail )  buying a " far off "  property  in order to pay for present rent  ….. 

Offer the note for as a down payment on the real estate you desire to own.same as #3, but ask the seller to take back some paper also (if not all of it) this is called "papering out"create a note again on one of your equities - sell the note for a cash discountmake an offer on the property you want subject to a 1031 exchange or subject to an outright sale of another propertyoffer one of your properties for sale with a deep discount (you'll have lots of interest) with an option to buy back in a few years (you get cash and have an option to buy your property back - buyer has your property and cash flow for a period of time plus a great yield on his investment)borrow on your home - use the proceed for cash flow real estatedon't buy - C O N T R O L  the property you want with a skinny contract of sale - with the right to market and possession if it is vacant (do a little work and improvements) offer it for sale at price that will give you a nice profit  - assign your contract for a profit.

We recently just did our first fix N flip here in Dallas.

https://www.zillow.com/homedetails/2226-N-Goodlet-Ave-Indianapolis-IN-46222/1298043_zpid/?

N/A

Im selling a few rentals that still have tenents in them. Do I turn over the deposets to new owner when I sell?

Outside of rental income that is the reason Warren buffet invested in mobile homes . problem with fix n flips, since most dnt know where to get deals, they do all that work to make a 15k take home.

@victor n.