Yep, all the reo’s will Also be on mls, and/or at least on the major REO auction sites.

My ideal thought was to use a product from Fannie Mae or Freddie Mac to finance rehab but seem to be a $1M minimum. 

Property that qualifies for 1031 is property you purchased with the intent of holding for productive use in investment. 

I was impressed with her product and her personally.

It doesn't matter if the vast majority of people are broke with zero chance of ever changing it thanks to their value system. 

They could also add structure to the loan, but given this is a MF asset, there likely isn’t anything to structure around (major tenant rollover, capital improvements, etc.)Let me know if you have any other questions I might be able to help with.

I would plan to pay for majority of upgrades with a line of credit.I have a few additional reasons beyond monthly cash savings to sub-meter the electric: 1) There is one thermostat in the house, controlled only by tenants in the largest unit.

The cash flow isn't great but I understand that it's a by product of the 15yr mortgage and what feels like a B class property. 

I was already leaning to the side of just stashing the money away so it will serve either/or function, first as a down payment for your next property or money to pay major capital repairs or improvements.

But that doesn't help the OP since the majority of closing costs are from a lender, they are much less when there is no lender due to a cash purchase.OP, I've bought houses as much as 500K and never paid more than 6-7K from what I remember.