Hello BP Community,My sister and I are partnering up to delve into the REI world of MTRs.

You can definitely do it yourself and learn faster that way.

I am also the building inspector for my small town and I certainly know who the good subs are and arent.

But, it’s not a business because even if successful, you don’t own the underlying asset, so unless you grow very large you have nothing to sell.  

Obviously tough to give advice based on minimal info and no info on your personal situation.

For example, if one is looking to invest in a C neighborhood and looking for indicators that it could grow to a B neighborhood (or A hopefully).

Repairing to sell might recoup some costs, but given the market and your limited funds, selling “as-is” is likely the best option to minimize further losses.

If you decide to sell and find an investment property with a greater cash flow potential.A 1031 exchange would allow you to indefinitely all of the tax and use it to your advantage to reinvest into larger nicer property/properties.

I like the idea of diversification of my investments and I love the strategy BAM has articulated: the focus on properties with below market rents in growing areas with jobs and good schools. 

There is a catch - the couple wants to 1031 the funds into their sons next larger project which is TBD.