This was extremely frustrating since he charges a pretty penny for closings.Based off my experience I would not recommend him for a 1031 transaction.

You need to identify which strategy you like best before jumping in and get extremely familiar with the process of underwriting deals.

Back again with few more questions to seek experts input.I am currently looking to shortlist some locations for my first rental investment property.When you look location what factors do you consider to pick the right location with good cash flow?

Lastly, I am extremely open to working with investors, or obtaining private funds as well. 

Hey Rachel,I can't help you because of the location but you're going to have an extremely tough time finding insurance for that type of risk. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

You may want to work with an experienced contractor and/or other experts who have done this in the past.Disclaimer: While I’m a licensed attorney, I’m not your attorney.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Hey Santosh,As of right now you're extremely exposed regarding insurance and I'm going to assume legally as well.If the home isn't registered as a legal multi-family with the town that's something you'll have to correct ASAP and make sure the home is up to code.Insurance wise as soon as they find out what you're doing they'll cancel you as the risk has changed from a single family owner occupied home to a multi family owner occupied home.

Two of the biggest challenges I face are that I’m not very liquid at the moment, and the Seattle area is extremely expensive.