@Benjamin Blackburn good question.  

@Benjamin Goodman gives a good example referencing live in flips. 

Quote from @Richard Ferraro: Quote from @Benjamin Aaker: If you are working with a Realtor (TM), they will have to follow the NAR rule to sign an agency agreement with a buyer before showing houses.

Quote from @Benjamin Aaker: From your options, #1 is a big sink of cash and I can't tell how much that increases you rent. #2 is a no due to cash flow negative. #3 is the way to go.

And after observing @Benjamin Aaker in action I love how he manages his debt. 

@Richard Benjamin Wilhite, @Bill B.makes some good points about loan terms and the strict identification rules for a 1031 exchange.I would add from a tax mitigation perspective that buying the largest property possible will give you the greatest amount of cost segregation possibility and at the lowest cost since it would be one study rather than several. 

Quote from @Benjamin Finney: Welcome! 

Quote from @Benjamin Ying: @Michael Smythe I'm new here, how do you determine property class if you're looking on Zillow?

@Benjamin Aaker I am going to pay off the high interest debt.

Quote from @Benjamin Aaker: This seller feels like he has a good position to turn down people who need to finance.