Type of tenant also more limited to choose from and location.If your 1031 proceeds each time are 1 million or more then as an example you could look at properties in the 3 million range versus 2 million which can make a big difference as to what is available for location,cap rates, and tenant type.

Look at the Airbnb in the area you want to invest and see what the difference is in rent, versus the difference in price in that area to purchase per unit in your area for 1 or 2 units. 

I'm not 100% positive but I think this is more of an HOA thing versus a municipality or a state thing.

I struggle with the idea of not pursuing further investments because of my current situation versus sucking it up and just picking up deals that cash flow less because some cash flow is better than none. 

The facility is in NC. 152 unitsYour best bet would be a local bank or private investor.

That should allow you to save up enough for a down payment reasonably quickly.It sounds like you're hoping to rent out the investment property (versus flipping it).

I will bet they ask you to take less commission on their property.

They might opt to stay but I'd bet they will not be happy and will not make pleasant neighbors.  

You have to qualify both on the FHA end and then the 203K end versus a conventional loan where the restrictions are less versus hard money versus cash etc. 

They reallocate the portfolio to percentages of less versus more headache for yield.