I only ask because in my are there are a lot of houses that are like 1.5 million and it’s kind of hard Grasping the fact that I can tell someone we will be able to buy their house with cash when it gets to those kinds of numbers.

I'm fairly new as well (about 15 months in) but I wish I had a better grasp of the finance side of it on my first deal.

I have a pretty good grasp on the material now as I've taken the time to study each day.

Your plan seems viable, but it's advisable to consult with a real estate focused accountant to fully grasp depreciation recapture and the complexities of a 1031 exchange.

@Christian Hutchinson - I'd say you have a pretty good grasp there of SE Michigan.

People not from Houston have only seen the horrible photos on TV and may not grasp just how big this place is geographically, how spread out and dispersed everything is (meaning as bad it as it was, most folks were fine)... and decide to go elsewhere for work. 

Im taking my real estate classes now and going over Cap rate right now and I really want to make sure I have a good grasp on cap rate.

@Bob Malecki  has a fund ( not sure if its accredited or not) but they are in the business of managing debt instruments.So maybe you check into these two as some sort of alternativeto get some experience.the BP is full of threads of beginner lenders asking for help after the fact.. its not super complicated but experience matters when it comes to lending.. its not like buying a rental home and sticking a tenant in it.. anyone can grasp those concepts.

Once you can grasp the concept it makes complete sense.

@Scott HamiltonI'm a local investor here in Dayton with a pretty extensive grasp on our market.