There's very little at that price point, not in downtown, not requiring a bunch of rehab, and within 25 miles, except for this: https://www.realtor.com/realestateandhomes-detail/1731-Hale-...?

They have 4.8 stars out of almost 1000 reviews, and the BBB gives them an A+ rating but they require 4 to 6 thousand dollars up front to work with them.

Look for desirable areas and live just outside of it.

Also start talking to lenders now to understand their requirements 

House hacking isn’t passive income; it requires time, effort, and a willingness to handle problems as they arise.### 4.

A standard 1031 exchange requires that the same entity selling the property also acquires the replacement property, which becomes challenging when proceeds are split between partners.Potential Strategy: "Drop and Swap"One approach is the "Drop and Swap" method:- Convert Ownership: Before the sale, the LLC distributes the property to the partners, converting joint ownership into individual tenants-in-common (TIC) interests.- Individual 1031 Exchanges: Each partner can then independently conduct a 1031 exchange with their share, deferring capital gains taxes by reinvesting in like-kind properties.Considerations:- Timing: The IRS may scrutinize transactions where the "drop" (distribution) and "swap" (exchange) occur in quick succession.

These tend to attract more reliable tenants, and the properties generally require less maintenance.

You'll need to meet requirements like parking and setbacks and might encounter additional hurdles in environmentally sensitive or historic areas.

My role does not require any underwritting to deal presentation to the principals.

My advice is to require them to pay the full balance upon the next payment.