New investor here, looking to get started on flips and value add projects in the Denver area.After spending many hours buried in property records searches and financial spreadsheets, I've determined the best way to move forward is to enlist an agent who caters specifically to buyers looking to capture value from rehabbing run down and distressed properties. 

Anyone from a housewife with no work experience to a former Navy enlisted sailor can become a realtor in 8 weeks and THEN help a Buyer or Seller make decisions on the most expensive asset most people will ever own. ( Think about that for an hour or two) The real purpose of Real Estate School is to familiarize a prospective Agent with the Laws that the BROKER must follow and keep the BROKER out of trouble. . 

@Hai Loc Dave hit all the major points regarding your question - as with most situations, the key to successful tax deferral/avoidance (1031 exchange or otherwise) is proactive planning ahead of taking action.When dealing with complicated matters such as a 1031 exchange, be sure to enlist the proper professionals (namely a CPA and a Qualified Intermediary) to guide you through the process.

I enlisted in the Army at 18 to get citizenship with a 3 yrs contract... there was no money in the military back in the 90s.We now live in a dilapidated looking house in a lower middle class neighborhood (by choice).

My mother has several properties that have been mismanaged or not managed at all and she has enlisted my help to get caught up, but I'm a bit over my head.

I went from earning about $40k as enlisted in the US Navy to $150k+ in about 5 years time.

The guy is retired Military Police, Sergeant Major, it's like the highest rank for an enlisted (not commissioned Officer), my buddy immediately almost collapsed, citing that when he was in the military, guys like this were huge aholes and liked to bully people around them.

After securing the property, you enlist the services of a general contractor (GC) to assess the property and provide a comprehensive estimate for all the renovations required to bring the property up to acceptable living conditions and any other improvement you want.

This proactive approach can contribute to a harmonious and productive landlord-tenant relationship, ultimately benefiting both parties in the long run.Professional Services:In certain instances, landlords may opt to enlist the expertise of professional landscaping services to maintain the aesthetic appeal of their property.

During this time, I've managed the property efficiently, coordinating with my cleaner, restocking supplies, and addressing the occasional guest inquiry.Initially, I enlisted the support of a virtual assistant (VA) from my other business to assist with tasks such as compiling event lists, researching property management system (PMS) tools, and providing general assistance while I focused on my other business.