I've always wanted to own rental properties and bigger pockets helped me start my journey.

But if I buy an investment property using a loan, I won’t be able to later use an FHA loan when I'm ready to buy in LA, right?

Does any one have suggestions for property management companies they have had success with in the Richmond, VA area?

It would most likely in my opinion be a owner financed deal.

I recently learned that if you owner occupy a residence for part of the 5 previous years before sale, and you rent it for the remaining time, you can calculate the percentage of time the property was owner-occupied (and thus qualifies for the sec. 121 primary sales tax exemption of up to $250k for single filers) vs the time it was being rented (which qualifies for 1031 exchange) and claim both benefits. https://hcsequity.com/blog/combining-1031-exchange-with-121-....How does this work for a multi-family?

However, understanding all the costs of buying a real estate investment property will help you avoid costly mistakes.Buying a rental property, holiday home, or property to flip can yield short-term and long-term financial gains.

What I'm looking for is a partner/mentor, maybe another wholesaler like me, and even an investor who's looking to purchase properties in the area.

Target free and clear properties and market to them through whatever strategy works best for you. 

Start building relationships with local real estate agents, contractors, property managers, and lenders who are investor-friendly.

Furnishings that may not already be presentI've spent anywhere from $0 to $8000 depends on YOU, how much Chip and Joanna you watch, and depends on the property. 3.