I wish you well in making your choice and that you succeed in acquiring your first rental home by 2024!

Is State farm a bad choice? 

@Nicole TuffarelliI am aware of a few groups that can usually utilize funds from an IRA to help purchase new homes at reduced leverage (usually capped at 70% LTV).It might be more beneficial from a tax-standpoint as well to do it that way instead of drawing it all out.

LLC, make him a member, Trust, assign him part of the beneficial interests.

I've been a developer for 17 years on projects across the US and we do both JV deals and consulting based on what is most beneficial for all people involved.

Looking to make another move and not sure what the best investment option is from here, as well as the best lifestyle choice.

Assuming a building footprint of up to 5000 sq ft, use could not support the need for a lot of parking (probably <20 spaces).Not interested in auto maintenance and other uses that require disposal (and potential runoff/dumping) of large volume of hazardous materials.Long term, I'd prefer something that contributes to the improvement of this area (e.g. a used car lot might be OK for a couple of years just to generate income, but I'd want to find something more beneficial after that).

Hi Lesley, if you’re an accredited investor there is an investment product called a DST (Delaware Statutory Trust) that might be beneficial for you to learn about when you perform your 1031 exchange.

As already mentioned, trying to refinance into a investment loan might not be the most beneficial. 

@Kristin VegasRelocating out of state to begin real estate investment might be a big choice, but it can also lead to new markets and possibilities.