Hi Charles,This is probably the fastest way to the poor house, mainly because, in Japan, houses are like cars as in their market value depreciates and goes to 0 over time.

Confused how this works for tax purposes.

Though, my main goal is to be break-even or close to it in cash flow once a property manager steps in to take over. 

Read Main Street Millionaire by Codie Sanchez.

@Kyle Carter You cannot directly use a 1031 exchange to purchase a primary residence, as the IRS mandates that the replacement property must be used for investment or business purposes.

I think the main thing people would point to as a red flag for Ocala is that it is not a large employment center like Orlando, Tampa, and Jacksonville and as a result may be more exposed to a pull back in values when there is a downturn. 

These serve two purposes:1.

The process seems daunting and overwhelming, and I am not confident I will put the time in to talk to sources, analyze, and find properties for investing purposes. 

There are many articles and podcasts from BP that they talk about that.The main thing is fill you up with as many information as possible.

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.