Lastly, start analyzing deals and see if you can't find a mentor/work with someone to collaborate with on your results.

@George Foster and @Brie Schmidt hold a great meetup the third Tuesday of the month at Dino's Pizza.

Dave Foster in a 1031 improvement exchange, like you described above, who holds title to the replacement property during the 180 day construction period?

I used to be a registered investment adviser rep and fell into real estate through my relationships with helping foster youth and those that were ageing out of the system. 

I'm a chicago investor and I would love to discuss, collaborate, and possibly partner with other likeminded and ambitious Chicago locals.

@Dave Foster covered it all otherwise.  

Here in the Orlando area we have the benefit of a gentleman named Foster Algier.Foster is a wholesaler who mentors other wholesalers, has a fantastic website, and allows his students to market their homes on his site for a very cheap fee.Check with your local REIA and see if there is a mentor like Foster in your local area.Best of luck...

Thanks for the answer @Dave Foster!

@Dave Foster Tax deferral assumes you won't cash out at some point.

I’d recommend @Dave Foster if you are going to 1031.