Also remember, you can NOT identify more than a certain number of POTENTIAL replacement properties, and they have to be within a certain percentage of value of the old property, and you can’t file this identifying paper and then change your mind.

The mortgage payment is already high and my life circumstances have changed, making the payment even more of a stretch (not impossible, but definitely above the recommended percentage of take home pay).I am considering selling the first property next year (which has about $200K in equity) to do a mortgage recast on the primary and get my payment to something more reasonable.

(If curious, my residential real estate investor clients from 10 years ago [you can find my 10 year old bigger pockets dot com posts :], at the time buying up 2-4 unit properties, a lot of them are now done with the 'human' tenants and want to 1031 into something that is ACTUALLY passive, so yes Starbucks comes up, thus I watch it).In my case I zoomed all the way into a specific brand (which then allows me to make very sweeping generalizations across an entire state -- but still not the entire country), I'm not suggesting you do that, but SOME of the variables need to be narrowed down, before you can gain any useful insights. 

Interest paid on their loan or a percentage of the profit?

So bound together and work as a team and take a smaller percentage if you make money.I see so many would-be investors going it alone and never get anywhere. 

What would you say the accuracy percentage is?

They are high on a percentage basis in Detroit, but relatively low on a nominal one.

Hi Sergio, I think there are way too many variables to be able to gain any real insight from responses here.

For making such an investment, you have your team build up.You can always do it yourself, but there are a lot of variables that you have to consider.

Interesting that your market is slowing, but Chris's market is doing well around Orlando.Jacksonville hasn’t been building as many total units as Orlando, but Jacksonville has been top 10 in the nation for building new housing units as a percentage of current stock.