Everyone does this game a little differently, every investor is a little different.

The electricity, plumbing, and/or heating in these places were invariably rigged by a drunk Mickey Mouse, whatever additions were built are of incredibly shoddy workmanship, and the last municipal inspector in there was obviously bribed to look the other way.

I’m new to the investment game and I would like to start out with a residential FHA loan to put little down on a plex, but I would like to establish an llc within the following year for tax benefits and liability purposes.

Larger down payments-Hard money lenders take on more risk since they don’t dive deep into your financial history, which means they want more skin in the game from you for security.3.

I'm back into the baby steps of studying and game planning, but I've done some research and am considering pulling the trigger on my first investment property.

@Dave Foster is another 1031 expert and provider you might want to consult.Before you embark on this journey, you need to evaluate whether the game is worth it.

( since he is very smart, liar and good in playing these games, I want to be on safer side) please suggest

Then you can choose the amount of the risk you want to insure verses a lender that has skin in the game requiring you to insure the full amount.  

I have been a professional baseball player ever since I was drafted out of high school so all my attention has gone there but I'm ready to dive in the game. 

But...http://www.exeter1031.com/arti...That loophole is closed if you don't live in the property first.Also, if the OP is already in the process of closing this month (not many days left), can he 1031 the transaction at this late stage of the game?