Bought the home.Rehabbed it, but then I decided to sell it.Almost doubled my investment.Long-time homeowners were extremely happy to have a new homeowner rather than tenants.Sold to a local female veteran.

We wanted to take advantage of Down Payment Assistance through a state program which relied on an FHA loan.

Good luck with getting started and definitely take advantage of the community here!

Buying cash definitely put you at an advantage in this market and saves you thousands on closing costs.

You can decrease or completely eliminate your monthly housing expenses, cashflow on top of that, gain appreciation, benefit from the tax advantages etc. 

This is a great place to learn and to meet people so take advantage of all the great resources.Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investingLots of luck.

. - Sounds like an awesome idea and definitely something you want to take full advantage of. 

@Art Webb, When the property has been the product of a 1031 exchange you have to have owned it for at least 5 years to take advantage of the 121 exemption. 

I am at ground zero, but want to know the best way to set up/build with the best foundation possible to take advantage of any tax incentives possible. 

Take advantage of networking while sharing your story with all of us.