You may want to consider really understanding construction on existing built homes and then pivot into using a trusted GC for those new builds.

With investment properties, most lenders I work with prefer to have an address to work with in order to provide a "soft" quote, which does not include a hit to your credit.

It sounds like it’s been a solid investment.

I think so many folks maybe are looking at these deals like its passive investing etc.

Quote from @Laurens Van swol: We are exploring the possibility of purchasing an investment property in Florida.

You just have to keep moving forward and trust that it will all make sense eventually.

If you don't trust your agent enough to tell you not to buy a house, then get a new agent!

@Matthew Samson, The conversion into a rental and then 1031 can actually be used with the primary residence exemption as long as you watch your dates.Your parents move out for a year and convert the property to investment. 

@Eric SmithGenerally, if the taxpayer sells the relinquished property to an unrelated party, the taxpayer generally cannot acquire replacement property from a related party unless:The related party is also participating in a 1031 exchange.The related party pays more in tax on the sale to the taxpayer than the taxpayer is deferring in the exchange (this scenario is rare).Let’s look who is considered a related party: Spouse, children, grandchildren, parents, and siblings.Corporations and shareholders owning more than 50%.Commonly controlled corporations.Partnerships and partners with more than 50% interest.Trustees, grantors, and trust beneficiaries.Non-Related Parties:In-laws.Aunts, uncles, nephews, nieces.Friends.Domestic partners.Entities owned 50% or less by the taxpayer or a related party.In your case, your mother-in-law, aunts, and cousins are not considered related parties to you under the definitions in Sections 267(b) and 1031(f).

In Memphis, TN, we have solid communites to invest in around our airport.