I want to find something local (Los Angeles area), move in, do small renovations to possibly build up more equity, do a 1031 exchange, and find something better. 

Local florist closed their shop after they tried for a year to sell their business.  

That’s the magic of real estate compounding over time, and it’s stories like yours that really highlight this.. from what i read in the street journal, that slow build often outperforms shorter-term stategies.From an investor-friendly agent’s perspective, being willing to dig into the neighborhoods (driving for dollars) and having a robust network.. from probate attorneys to local contractors.. can pay off big.

I am local to the Memphis market here and like others have mentioned communication is key.

I am on the board of CFRI, the local chapter for National REIA.

There is no other local affordable housing in the area.

We were collaborating with a local real estate agent who presented us with this MLS listing.

Portfolio loans from local lenders may also offer flexibility.

Will gladly work with her again if I have anything where a Realtor adds value - she's local, knows the properties and the people involved.

Our customers are a mix of 1) DIY owner/operators and, 2) investors who use one or many full-service PMs to handle day-to-day operations in their local markets.