So, with minimal cashflow and minimal appreciation, you'd need to make your money in equity via an aggressive purchase.Personally, if I have to put 25% of my own money down AND also do a lot of the rehab work myself, AND the property won't cashflow much, AND the property won't appreciate much, I would want a bigger spread.

The LLC will minimize your exposure.So the real question is: what are you willing to risk?

This was a minimal concession, but I still thought the deal was good enough that i didn't want to walk away and let someone else have it. 

I hate dark bathrooms and using a light in the middle of the day. 

I think the risk here is minimal.

Prioritizing market knowledge and buyer preferences minimizes risks and maximizes success.

This minimizes risk and establishes a robust foundation for your investment journey.

You have 2 limiting factors: lack of consistent W-2 income and minimal capital.

Seller is looking to get $210 and prefers a cash deal to minimize expenses, which I do too.

I'm considering diverse options for reinvesting the proceeds ($200k+) from a planned 1031 exchange and am open to various strategies:Las Vegas/Reno: These markets offer potential for both cash flow and appreciation, but I'd need more information on their suitability for mid-term rentals and current market conditions.BRRR strategy: This approach could be attractive for value creation, but I'm hesitant about out-of-state management and require a turnkey or experienced team to handle renovations.Other locations: I'm open to exploring other markets offering favorable investment opportunities, particularly turnkey properties or areas with manageable maintenance requirements.My preferences:Turnkey properties: Minimize management headaches and focus on cash flow.Limited appreciation: While some appreciation is welcome, cash flow is the primary priority.Shorter-term rentals: While Airbnb isn't an option in my current area, I'm open to exploring short-term rentals in other markets.Avoidance of major renovations: My recent experience has solidified my preference for well-maintained properties.Current portfolio:3 duplexes in Missouri (mixed performance)1 single-family home in Memphis, TN (turnkey, positive experience)Questions for the community:What are your thoughts on Las Vegas and Reno as potential investment destinations?