I really am ready to get off of the 1031 merry go round for awhile.

Flips the house again and make 50K on go round number 2.

It's now somewhat more diversified with the largest medical center in the country, several universities, a huge variety of retail outlets and restaurants, the dwindling space center, tons of construction, etc.Still, folks are getting nervous as oil prices plummet and companies begin the inevitable rounds of layoffs (yes, it's already happening).

That's not to say though that an agent who has done lots of homework wouldn't want to consider it on the 1st go round. 

I had to round up all kinds of evidence like power company records (showing two meters and two addresses to bill), testimonials from neighbors who have been there a long time indicating there has always been "TWO FRONT DOORS", county property tax records showing how it has always been billed, floor plans showing back to back kitchens on either side of the kitchen wall, and pictures in the attic showing the common DWV for both is in cast iron which was typical back in the days of original construction, as well as two electrical panels and showing pictures of EMT conduits coming up from both in the attic indicating again the wiring was done back in the days when EMT was common practice. 

I was thinking of doing a first round investment with 20 individuals contributing $20,000 to $30,000 each.

Don’t pay twice.At the base of the wood floor there should  be quarter round molding (some call it shoe) where the bottom of the baseboard meets the flooring.

Hey @Wilder Fuentes,You're overthinking it here, and this is quite common.HOW you purchase something is largely irrelevant in this determination (i.e. a $100k home is $100k whether you purchase it all cash or using leverage).We'll use nice round numbers here.If you sold the home for $200k and had 8% costs of sale (agent commissions, title fees, HOA transfer fees, etc) then your net from sale would be $184,000If you bought this home for $100k and had $2k in costs of sale here, then your basis for the property is $102k.  

My wife and I are on our second house hack in Saint Paul, It's been full of good experiences and I'd absolutely recommend it as a great way to get started and gain some well-rounded experience in your first year or two of investing. 

If your cleaner is a neighbor or you, they can probably figure out what makes for a good clean after a round or two.