I am very motivated to learn more about the real estate world and looking to get started.

Typically, when I work with RE investors, we'd make a preliminary legal plan to ensure that both the legal and business goals align before creating any sort of entity set-up.

These mailers have taught me that there are more motivated sellers and more property available than I will be able to buy!

So, this is mostly about the motivations of the parties involved IMO. 

There are some institutions that allow you to use both W2s and Bank Statements to qualify if you hold a side business of some sort. 

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

Most of the " we will help you stay in your home companies" got put out of bizz during the GFC since so many were just fraudsters .If someone is in foreclosure their credit is ruined at that point going to foreclosure sale does not matter on their credit enough to make that a  motivating factor although folks BS about that too.

There is no real motivation for the property management company to evict tenants and/or fill the vacancy as long as 1 tenant is paying their rent.

This can potentially enhance long-term wealth building.Tax Deferral-By reinvesting your proceeds into like-kind properties through a 1031 exchange, you can defer capital gains taxes, allowing you to reinvest more capital.Market Timing-Despite the competitive market, a 1031 exchange gives you a defined timeline to identify and acquire properties, potentially putting you ahead of other buyers who might not be as motivated by a tight deadline.Cons:Lower Initial Cash Flow-Acquiring additional properties may reduce your immediate cash flow, especially if properties in your target market are not as cash flow positive as your current property.Risk of Overpaying-In a competitive market, there's a risk of overpaying for properties just to meet the exchange deadline, which could impact your overall returns.Either one is a valid option, but overall it depends what your financial goals and restrictions are.

The City would likely not want you to have any sort of kitchenette and definitely won't want you to have a shower.