My point is buy n hold requires some time and effort.  

It does cost money and you are required to take classes.

Many states have non-judicial options where if the contract allows for it(most contracts do) then no court involvement is required to foreclose the property.

If it's a commercial/DSCR loan, then licensing may not be required.

I think my main point, which you’re experience lends support to, is that while there are below market deals out there, it requires a continual effort of being “in the market” and looking at 100s of deals to negotiate the rare below market purchase.  

Mind you, I had completed appraisals, credit pulls, and all other tasks that they required.

It's an interesting time to invest in the Phoenix area as we are starting to see interest rates coming down & in some pockets of the Valley, we are even seeing a balanced or in some cases a buyer's market. 

You can refinance it into a conventional loan and that helps avoid the higher down payment.FHA also offers more wiggle room when it comes to DTI debt to income ratios and reserves requirements. 

Richard,I would think the hurdle of selling all 9 lots at the same time and getting through due diligence in time to satisfy the 1031 requirements, might be a big goal.

@Mark Thiel This is not legal advice but I think most LLCs are overrated unless you are required to have them for lending like with many DSCR loans.