The wealth of information from this group will help you feel comfortable when you purchase your first property.

I read a post on here that stated in order for it to qualify, the new purchase of the 1031 had to be of the total sale amount ($10M or greater). 

Purchase price: $240,000 Cash invested: $180,000 Sale price: $789,000 3 Story Victorian build in 1900

Either way this would be my first rental purchase.

Keep studying these resources and by the time you're in a position to purchase, you can be sure you're ready to jump on the right deal when it comes up

Purchase price: $160 Cash invested: $108 Sale price: $355,000 Vintage 1900 2 Story 1650 Square FT Complete stud to stud restoration What made you interested in investing in this type of deal?

I have spoken to some other hard money lenders and most require 10-20% of the purchase price as a down payment.

If they made one that looked more like a traditional lockbox, or if erentallock offered a standard lockbox, I would immediately begin purchasing those as well. 

I started my real estate investing journey this year with the private purchase of a off market house that went awesome.I then found a interesting triplex/warehouse property, went and looked at it with the listing realtor, crunched the numbers and decided that it made financial sense.

and then a commercial lender the rest of the loan to purchase?