But starting with single-family can be a great way to gain experience and confidence before tackling larger deals.If you were someone I knew personally, I would probably suggest multifamily, but it's not for everyone.

Here is the how I would explain it to a kindergartner:The true power of a 1031 exchange is the ability for an investor to meet their investment objectives without losing equity to taxation.With more money they can buy larger, multiple, or more productive properties.What is the alternative?

Build up your portfolio with a professional landlord and then as your portfolio grows transfer the assets over to a larger PM firm for ongoing accounting and management. 

So, you have your choices of closed ended or open ended structures. 

Have you had larger Cap Ex projects that you didn't anticipate?

The garden unit tenants stopped paying rent, and I had no choice but to start the eviction process, which is still ongoing.

This would allow you to indefinitely defer the tax on the property and use it to purchase larger property/properties in a nicer appreciating area.

.- Scrap bar stools and get a larger dining table + chairs to sit 6Bedroom 1- Too many lights.

You can do a duplex though, which might not be a bad idea.With your credit score, conventional might be a good choice, you only need 5% down for 2-4 units if you live in one. 

IMO killeen is a solid investment. just have to watch which areas you are getting into. there are some pretty rough areas near fort hood but killeen is great because it is close enough to austin and people commute from there to austin as well. with fort cavazos near by and the new samsung plant coming online in taylor, it is a solid choice with steady demand for MF.