My partner and I are in our 40's looking to acquire multi-family properties out of state for cashflow.   

Some of the best advice I got that I will forget was this:"SOME OF THE BEST DEALS, ARE THE ONES YOU DON'T GET"Let that sink in for a while...I remember 4117 s Michigan Ave. here in Chicago, it was an awesome 8 unit full gut condo conversation - I loved the deal and still belileve it would have been a great deal, but would have pinched me so thin I am not sure how I would have survived. 

I see Jeff S. responded he is one of the most experienced lenders  PM  lenders who owns his own company here on BP..

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

@Michael S.- I am also reading that book.

Full disclosure, I'm not a disaster expert, politician or climate alarmist, but according to those fighting fires on the California coast since the 1960's, Devil Winds are natural occurrences each and every decade but require highly conducive conditions to be as destructive. 

My SFH investment s will help me absorb my losses, so it’s a good learning experience.  

Quote from @Lavanya Milton: Quote from @Thomas S.: First step for you is to study investing in income properties.Generally a rental property will have in the range of 4% -50% of rental income going toward expenses to maintain the investment before debt repayment (mortgage). 

I did a rebuttal on a few 1007's and had them adjusted. 

If you have any questions on 1031's feel free to ask!