Due diligence on which intermediary you use is arguably more important than the DD you'll conduct before identifying a property to trade into.

Read some real estate related books, become involved in the forums here on BP, listen to the podcasts, read as many real estate blogs that you possibly can, attend local REIA's, and start trying to connect with local investors to pick their brains.Once you have established a foundation of knowledge, you will be able to identify your desired niche in real estate investment and take action.

If you can drive down a street and identify the rentals, that may not be a good thing.On one cul-de-sac street where we bought there were a total of 22 SFH, 20 of which were owner occupied, guess who owned the other two.On another street of 20 houses, only 4 were rentals, guess who owned them.We like to buy rentals where there are few rentals and mostly owner occupants.

I also remained mindful that I may need to assemble multiple parcels, always considering the fact that I may need to tear down existing structures.Over the first three months I continually narrowed my list of target parcels continually assessing the potential for the relocation of an existing Dollar, or filling the gap between existing Dollars with a competitor.I contacted owners, existing listing agents, past listing agents (in an effort to cut through the time and BS of identifying and contacting the owner).

I live in Austin, and currently staying with family and friends, but I'm looking for a place to call my own/make some extra cash at the same time.Naturally identified a Multi Family Rental Property would be a place I could live in and rent out the other part.

Since they are promoting these methods that pretty well identifies their ploy with the intent to circumvent the law.

Identify up an coming neighborhoods and get to know them.

I identify the problem and deal with it.I asked this question because before engaging in risks it is best to understand them and formulate a strategy that minimizes their effect.

Step 2 is to have a system in place to identify things as soon as they hit the market in your intended areas of purchase and move on them ASAP.These 2 things will at least make you more competitive.

In talking to my agent I found out that this seller has a number of properties that he wants to 1031 into a large property but they have not identified the larger property.