But what you exchange into can't be based only on your gain but it has to be equal to or greater than your ultimate sales price.

Also, I strongly suggest that you check the Ultimate Beginners Guide:http://www.biggerpockets.com/ubgYou might also find the Podcast interested, especially as they have a few episodes devoted to beginners.

Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.Also -be sure to setup some keyword alerts - especially for "Miami" so you can jump into local conversations.See you around the forums!

Ultimately, I'm going to befriend some Realtors though

Download the BP free ebook "Ultimate beginners guide to REI"

I think a great way to begin using BP is to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.  

Ultimately I prefer locations closer and will start from there. 

I am not going to argue with the alphabet or 20 years looking back how A properties consistantly ultimately out perform b, c2%, d props and especially longterm.

Ultimately, I know I'll need to talk to an attorney, but I wanted to get a general idea first and do more reading on it. 

Ultimately, we will relocate to a new personal residence and the current home we occupy now will become rental property number two.Our short term goal is to build a portfolio consisting of ten investment properties using a buy and hold strategy.