What kind of property did you buy?

Hi Anthony-You asked about the best ways to find off-market deals for your in-laws to buy and move into and you are focussed on the Santa Barbara, CA area which I have been to and it is gorgeous.It kind of reminds me of an Ann Arbor on the ocean. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.

What kind of resources do you recommend for finding a good first choice? 

Let's see: You sell one property, and to avoid paying cap gains tax, you then reinvest those profits within 45 days into a larger "like kind" property.

Any tips on marketing or preparing a property near a military base for this kind of rental?

I would guess that you have little or no experience running any kind of STR, and now want to get that experience on the back of someone else's investment, with little or no personal skin in the game, and that's not a good way to build an investment portfolio.

What kind of debt do you have on the property?

BUT, my business was built on being kind to tenants, and fair to owners.

Thats kind of the beauty of thes exchanges.. you get to reposition your capital, ideally in a property that ticks more of the boxes you need.Now, thinking about older buildings.. some folks underestimate how well older properties can hold up if they’re in a good location.

Not only what it's like owning rental property & all the responsibilities that come with it, but you'll also figure out if owning property is the right kind of investment for you.