In reality, most older homes will cost you considerably more in maintenance, capital expense, and vacancy (people just generally like to live in and rent newer homes).

Here's a bit of background:I have over ten years of experience in real estate.I've bought and sold hundreds of properties in the past two years.I have six performing rental properties and aim to expand this to 50 by the end of the year.

Quote from @Clint Miller: Anyone here in the community used construction loans to scale their development projects?

I ran into this recent TurboTax article  that led me to believe it was possible: Second, you may have a net operating loss (NOL) if the Section 1231 loss is large enough to reduce your other income below zero.

I'm Josh Herman and I live in Southern California.

This is a great place to learn and to connect with people so take advantage of all the great resources.

@Li Li, Since the 1031 exchange will allow you to move into any type of real estate anywhere in the country. 

My project was in View Ridge. 

One key lesson is to always prioritize a thorough inspection—and go beyond the basics.

People like this Scott Carson guy give "mentor" and "guru" a bad name which is just so frustrating because they are not all bad.