Chicago burbs -Have a property in great condition , great location :seller Asking : 250K ; home in default , preforeclosure , outstanding Loan: 178 K , house worth about 260K Motivatedis there any way to make a deal ?

In addition to the potential increase in cashflow by doing a 1031 Exchange, it would give me peace of mind as this property is the only one in my portfolio that is exposed to a high risk of flooding during a natural disaster as it is located in a very low lying area.I am happy to provide additional numbers/details if there is anything I am leaving out.

I had reached out to a realtor around 3 weeks ago for a prime location apartment in an apartment complex.He called me again yesterday.Are we topping?

I use this a lot for location based discussions: http://www.biggerpockets.com/alerts If you’re looking for meet-ups, @Justin Brown runs a good one in Allentown that meets on the 3rd Thursday of every month.

Depending on your specific location and amenities single families are renting for $1150 to $1450 in that area.How much equity do you have in your home?

They moved the location out to Hellertown and unfortunately I just haven't had the time to attend.I've been meaning to make time to get out, is that one you attend? 

if you have no other income  sources  -try to locate work with a firm that will  pay some sort of  base salary as you  begin  learning the  ropes  as  getting decent income is likely going to  take  time ...if you locate a place like this  - your  commission  split will be lower as  compared to  working as a  regular  100 commissioned loan offer

Hall bathroom had 7' ceiling, we opened it up to a 10' , located toilet to end, relocated linen closet behind door, to add vanity.          

GENERAL INFOThe property is:1) Out of state2) A single family buy and hold rental3) In good condition4) Occupied by a tenant5) My first investment propertyThe quotes are from:1) An insurance broker in my home state (CA) who typically uses Safeco2) An insurance broker in the property’s state (Ohio) who quoted Berkshire Hathaway Guard3) One of the big name insurance companies, located in the property’s state (Ohio)Any questions (replacement cost vs actual cash value, etc) I should be aware of and asking?

Any advice is appreciated - also I am located in Florida if that helps at all.