Never mind the fact that there are a whole lot of people looking to buy a property (increasing by the day) to live in themselves.From what I have seen, most MLS listed duplex properties in Denver (and most other properties, too) are at a purchase price that would put you so far away from the 1% goal - it would be impossible to cash flow them now or in the near future. (1% being the rough guide for considering a property, rent/month is 1% of the purchase price of the property).

Also, is there any thing I should know about purchasing in a different state besides taking into consideration property management.Id appreciate some advice on this deal (my first one).

Beyond that, I am intrigued by the possibility of building a portfolio of small multifamily properties and generating cash flow to increase my flexibility and time with my two young sons.  

Any other considerations to keep in mind while doing wholesaling on active license.

So that's another consideration in this market.

Therefore, you can't sell the home to yourself to increase the tax basis.  

A quick mls search shows the cheapest apartment rented in Framingham that was listed in the last 6 months was rented for 925 and Ashland $975 so it looks like you have room to increase rents if your building is in decent shape.  

So, just funding the account gets you a nice $1000 back in state tax credits, which sweetens the investment considerably.  

@Jose Jose, glad to hear you're thinking about this- water savings are an amazing way to increase your return.

I do have some large projects in the pipeline which could increase that number by another 100K or so but its safe to say low 300's and I will have a tax bill of about 50K this year so ultimately it is very safe to say I am liquid for 250K right now that I'm ready to invest.Due to my job I have access to subcontractors of all trades... roofing, tile, granite, flooring, paint etc at pretty much cost (day rates of the actual laborers).