Here’s why this market is so ripe:1️⃣ Mom-and-Pop Sell-Offs at Huge DiscountsA lot of these properties have been in the same family for decades, but now the kids aren’t interested in taking over the business or the real estate.

Then look at places where you can buy those properties, and last investigate with HUD what is the section 8 rental in those areas.In that way, you will collect a lot of knowledge in the process.

The property's expansive lot further heightens its appeal.How did you find this deal and how did you negotiate it?

I can make the numbers on a good property turn bad for a year or more due to the loss of rents, if they can't be recovered. 

Know your market cap rate and you can quickly determine whether property is worth a closer look. 

I would like to purchase a three or four Plex and live in one of the units.I understand I can use an FHA loan or conventional loan with only 3 to 5% down in order to get into the property however I live in a very expensive area and the properties I am looking at are currently 700+. 

Are they in distress, relocating, or simply tired of the property?

I’d like to get my feet wet with a flip or two before transitioning into long-term buy-and-hold properties.

The LLC sells the subject property and buys, for example, 3 replacement properties in a 1031 exchange. 

If I do sell years from now I would probably just 1031 the property.