Like in the example of buying a quad, living in one, rehabbing the rest, increasing rents for the rehabbed unit, using the GMR for the area to find a new valuation price for the quad, refinancing, buying another unit, waiting for another year, monitoring the GMR and selling the first unit at a high appreciation, using the proceeds towards a 1031 exchange and repeating the process.

So in your example, if your ROE is only 5%, and you have other investment opportunities that can make more than 5% (ideally 10% or 15% or higher), then it is time to 1031 exchange into another property, or sell and put the money towards another type of investment.Put simply: if your ROE is LESS than the ROI of another investment opportunity, it is time to consider selling.Obviously you would also want to take transaction costs and taxes into account as well.

Maybe ask her in exchange for you not doing tours with her still in the property that she move 2 weeks early to give you time to get a tenant.What about putting her up in a hotel for a few days so you can have a full on open house?

It's a small business model at an enjoyable level for me... but looking to grow some.I'm new to BP because real estate is my favorite topic to exchange ideas and inspiration and found so many people like-minded here - very cool.I'll be having some questions about moving upward for sure, but may be able to help some with do-it-yourself rehabbing.Thanks for connecting!

Purchase #2 will not be far behind.Good luck with your future purchases.Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to your educational and thought provoking ideas relevant to REI.

Feel free to reach out if you'd like to exchange ideas.

Is there anyone you know in the Indianapolis area well versed with short-sales, and in your opinion would I be better served referring it to this person in exchange for a referral fee, and move on to the next lead, or should I pursuit it and learn something new?  

All your computer work marketing setup etc. can be handled by a 14-15 yr old in exchange for providing them with a brand new laptop.

Hey @Kimberly Gillock These are the things normally included in closing costs: A fee for running your credit report.A loan origination fee, which lenders charge for processing the loan paperwork for you.Attorney’s fees.Charges for any inspection required or requested by the lender or you.Discount points, which are fees you pay in exchange for a lower interest rate.Appraisal fee.Survey fee, which covers the cost of verifying property lines.Title insurance, which protects the lender in case the title isn’t clean.Title search fees, which pay for a background check on the title to make sure there aren't things such as unpaid mortgages or tax liens on the property.Escrow deposit, which may pay for a couple months' property taxes and private mortgage insurance.Pest inspection fee.Recording fee, which is paid to a city or county in exchange for recording the new land records.Underwriting fee, which covers the cost of evaluating a mortgage loan application.I crossed out the items which you shouldn't have to pay for if you are doing straight seller financing.  

Only way I could see it happening is getting involved with an investor and working a legal agreement that I would take care of the house and acquiring its tenants and lease work in exchange for the investor paying all the initial costs.