@Roger Garner the strategy will really depend on what level of involvement you want in the project.

I had to do an elaborate french drain system with multiple pumps as the lower level units would get water with hard rains. 

It will provide you with zip code level of market rents, rental demands per metro markets.

@Anna Davis - I agree with Stuart that most properties at Auction need some level of work, especially for a retail/consumer buyer.

It doesn't seem fair that I'm unable to reciprocate on their level. 

I've not invested with 5S so I can't comment on their product and management specifically but I can say for build to rent, if you’re considering this, ask yourself: Does this fit your investment strategy and comfort level?

There's no right or wrong way to do this, just varying levels of risk and reward and YOU need to understand what they are for whatever strategy you choose. 

😂Plenty of lovely folks there, plus it's where Cannon Air Force Base is located, but we soon discovered that just having a base nearby didn't necessarily make for a lively real estate market.Shortly after that, we adopted our MUCHAS criteria:M - Near a military baseU - Has at least one college or universityC - Has a Costco or equivalentH - Has a hospital ranked at least as a Level II Trauma CenterA - Has a commercial airportS - Has a Sprouts (organic grocery) or equivalentThis has led us to look at often-overlooked markets like Lubbock, Texas and Augusta, Georgia.May be worth a look for you as well!

@Bryan Cavellier, You can 1031 with any US property including Guam, the USVI and ...drum roll- The Northern Marianas Islands (go figure but I actually had a realtor from there in a class of mine recently) into any other US or one of those territories.  1031 is a federal statute so it's applied the same in all locals with just a few variations state to state at the state level. 

Where I would ultimately like to end up is with multiple properties that I rent out, even on an international level, as I love to travel.In order to achieve my goal: What strategies could you all recommend?