For instance, FHA guidelines are very strict and restrictive when it comes to using departing-residence rental income to qualify for a new FHA loan (such as the 100-mile rule).

The departing tenant says she will continue paying rent, but I wouldn't bet on it.

Overall, it seems like the experience will be mostly wholesaling, with a little bit of other types of RE transactions, until I get more experience.Overall, it seems like they started wholesaling years ago, but now do a little bit of everything. 

I have been doing this since the mid 80s  over 3500.00 transactions and If I can do it you can do it :)

Look, I am rather regimented when it comes to hard money; that a HML should ONLY ever be used for short term transactional purposes. 

Hi @Ben Lindquist, The 1031 Exchange Qualified Intermediary is a crucial part of any successful 1031 Exchange transaction.

(C)(1) If the parties dispute the disbursement of the earnest money and the purchase agreement contains the provision described in division (B) of this section, not later than the first day of September following the two year anniversary date of the deposit of the earnest money in the broker's account, the broker shall return the earnest money to the purchaser unless the parties provided the broker with written instructions or a notice of a court action as described in division (B) of this section.(2) If the broker cannot locate the purchaser at the time the disbursement is due, after providing the notice that division (E) of section 169.03 of the Revised Code requires, the broker shall report the earnest money as unclaimed funds to the director of commerce pursuant to section 169.03 of the Revised Code and remit all of the earnest money to the director.Not that this isn't good info for people, but to clarify, HoltonWise has not and did not ever hold any of this buyer's earnest money during this transaction.

I’d prefer to buy as large of a MF property as possible because of economies of scale and having to complete less transactions, but I haven’t closed or underwritten a deal that large before.

Many mortgage shops do NOT allow their loan officers to also be RE agents on the same transaction to much of a conflict of interest. 

This doesn't account for transaction costs and reduction in leverage as you pay down the mortgage which accounts for closer to 2-3% less, so you 12-18%.