Sell for $500K and put three $5 mil properties on your list - this is fine (and good if you're selling an asset and want to buy something larger).2.

We suddenly had 2 homes and began exploring what our options were and that is when we discovered the intriguing world of REI and tapped into Bigger Pockets and Better Life Tribe, etc. to begin our education.In the time since his death and the probate process we have been paying his mortgage off and selling items from the home which we have been maintaining.

I am open to off market listings and any nearby networking events!

-As you list your homes, try to have a list of properties in mind and which strategy you want to go with first (STR or LTR.) - Get with your CPA/accountant with your plan, so there's no surprises.- Work with a realtor who has experience with 1031 exchanges (whether it's as an investor or helping past clients)

If you can get a local agent to pull a list of recent transactions, you should be able to estimate, based on the photos, what your target property will sell for post-renovation.The repair budget is the list of repairs (with estimated costs) required to make your target property look like the "ARV homes" you found above.

C+ Neighbourhood13 Unit Apartment Building (Link: https://www.loopnet.com/Listing/7828-S-Essex-Ave-Chicago-IL/30374409/) The average Rent is $1400-1500 (to be safe $1300, but I am extremely confident that I will be able to rent higher adding value and convenience to the tenants and treating them as a bit with a higher level of service) - $16,900 at full occupancy and ~$12,000 at 70% building. 

Found the listing on Zillow.

A brokerage that specialized in distressed properties had it listed.

Purchase price: $168,750 Cash invested: $40,000 Sale price: $238,000Offer accepted 1 day after listing - Sold for 3k over asking. $29,250 PROFIT.How did you add value to the deal?

They gave me a punch list of items which we completed and agreed to an inspection which only took place on paper.