Our clients have used 1031 exchanges very effectively when they have a property that turns out to not be the right fit for them.

For instance, structuring investments through a European company that acts as the buyer of the properties and handles renovations could be an effective solution.

Does anyone know of any other ways to gauge the effectiveness of this plan? 

Any specific suggestions on how to tone down on a budget but still be effective?   

If someone doesn't pay their rent, then it can take over a year to evict them, and then I'd be left paying that mortgage and fees for a lawyer, etc.

@Anthony Finelli check your mortgage paperwork for the Truth-In-Lending form to find your APR.APR is your effective interest rate including interest, MIP and closing costs.If you can refinance the rental at a cheaper rate than the APR, then you should!

However, in order to do this effectively, you have to have knowledge, experience, resources, and cash reserves in case things don't go exactly as planned.Hopefully this post was helpful to you in seeing a realistic example of how to purchase real estate without using your own money.

They can also guide you in choosing properties that appeal to dependable tenant demographics.Access to Reliable VendorsProperty managers have established networks of cost-effective contractors for renovations and repairs.

Are there other, more cost-effective alternatives to gain similar support and knowledge?

Additionally, working in a small-town market taught us how to effectively price properties for faster sales without compromising profit.