This isn't going to stop me, but it's an issue.To address this issue I've contemplated buying local foreclosures to flip.  

Hi guys its me again, so Ive posted on here before at looking at some properties in the northwest and northeast suburbs of chicago primarily mchenry, kane and lake county and I have basically been contemplating some ideasMy goal: To get a fixer upper property and fixed it and flip it (maybe live in it for a couple months to a year before i sell it, depending on how the market is going)Financing optionsCredit Score: 745 (last check last week- transunion)Cash: 25kPossible Heloc: (My property in Utah was appraised at 265k, I owe 200k on it so thats a possibility to tapping into some of the equity)Any ideas as to where to go and who to talk to to find some fxer upper properties, i know a lot of people dont like to give away their "secret" but it be nice to find some really cheap properties off market and try to get some quotes from different contractors to try and make my first flip.Thanks so much guys again for your help!

I was initially hesitant to post this as I was contemplating whether this is a success story yet, but I'll let the BP world to decide.

Generally speaking, you may not even take possession of the proceeds if contemplating a 1031 exchange - it must be held by a Qualified Intermediary.

Worst case is a 6 month reprieve from future endeavors as I assumed upon contemplating the deal!  

I have zero to little property management experience, which is why I'm contemplating outsourcing it.

If you are contemplating running a VRBO or Airbnb then I would recommend buying a multi-unit or single family home.

Some totally eliminated it and restarted it years later.I'm not sure why so many Cashflow Investors feel their cashflow is so protected that they cannot contemplate having a hardship in the future, but this is as dangerous as thinking a Dividend paying Stock cannot reduce it's Dividend payout.I'm also sure that if both Jay and Russell have been Investing in Appreciating Markets like I have, we survived MANY crisis, including the Financial Crisis of 2007/8. 

I have been contemplating a few things and wanted to see if anyone has any advice.

So, I wondered for all you DIY'ers out there, if you're either doing or contemplating a home remodel, some of these materials may be useful to you.