@Dominic Williams Like anything, location and condition effect the price but you can buy and sell almost anything for a profit if you buy it right

I have a condo with monthly HOA's and it eats into my profits, $300.  

Can you use the "profit" from one investment property to 1031 into multiple properties?  

Is this something you recommend I look further into, or is there a major obstacle here that I'm missing? 

You can't always make things fit so it is profitable.

L.I write about No Bank No Credit financing.If you want to play in the sandbox of no money no credit, you need:Private Lenders (knowledge of self directed IRAs)JV Partners (splitting profits w cash partners)Creative Financing (sub2, land contracts, installment sales, TIC contracts, using notes, etc)I used to live in Mt Kisco, Westchester.I get what you are trying to do.Good luck!

Yes we all profit from paying down a mortgage and from appreciation at some point in the distant future but until you reach that point you still need to pay the bills.Two different animals, different concept, Investing verses speculation.

(this is the only thing we need to negotiate - EQUITY)I will send the seller a contract of sale (and a copy to you) - I always use my "Skinny Contract Offer" at a price we both agreed to -  Your job will be to get comps - look at the property - make an inspection and determine that the offer I make is at a price where we can make a reasonable equity profit.

Then, your offer should be NO MORE than that value, less tear down and holding cost, less your own desired profit. ie.

When the Super Bowl comes to town, it could be a very profitable weekend!