@David SaundersAt least once a week, someone posts to the commercial newsgroup seeking a way to finance 100% of the acquisition cost for an income property.I suppose it is fueled by the late night infomercials touting no money down deals and using pictures of Class A apartment buildings, never saying the one describes the other, but leaving a strong impression that that is the case.The way it comes across, one would believe that all you have to do to become a millionaire in real estate is to acquire the properties with OPM, meaning Other People’s Money, and then just sit back and collect the big fat checks they like to flash on the screen.

But the general point is there - 1031s are mom and pop not fat cats. 

They are old, short, fat, pretty, ugly, tall, can't speak English?

I was paying 2k my first year for my GenEds.

Using an FHA loan with low money down, I'd have FAT PMI which would eat into any potential cash flowMy monthly expenses are about 2,400I make about 75k per year at my W2 job, which does let me work remotely whenever I wantTo househack in San Diego or invest far away...both have pros and cons...

@Gene Vityugov -- Yes, you're exactly correct.

@Gene D.

Not saying all turnkey deals are bad, but there needs to be more fat on the bone for all contributing, some wholesaler, a rehab guy, buying and selling costs, holding expenses, profits for all and then had that end buyer the tab for that dinner.

Well you have to understand that people tend to associate wealth with being some cigar smoking fat lard with trophy wife and mistresses with big mansions and at least 2 private jets.  

I promise you that I can sell you swamp land in Florida and the brochures, pictures and fat paychecks made in the past will make you think you see 98% of what you want to see and not what is true.