We have a few multifamily and single family properties between Sheboygan and Sheboygan Falls. 

1 year lease for an apartment to a single woman with a dog in Duluth, GA. 

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

Your main house is a modular home, with the telltale connection beam and single pitched ceiling.

Yes that will be super helpful 

We are paying 5k rent for a 4 bedroom single family house.

To second what Jessie said, with $150k in cash, Memphis could probably get you into 4 Single Family Rentals that are each cash flowing in a matter of a couple of months. 

My goal is to 1031 the entire portfolio into a single large multi unit.

Every single surface in the house was redone/replaced.

Another thing to consider, most single family bedrooms rent for 800-1200 monthly depending on the area.