Basically, you could have a anything else (land, farm, condo, house etc) and do a 1031 if it was an investment. 

Hi Greg, I use Bill Webb with State Farm for some of my rentals. 

I found this on State Farm's site:https://www.statefarm.com/simple-insights/residenc...Kalapana, SW of Leilani Estates where the current flows are, was hit bad back in 1990 (?). 

I'm seeing deals daily in the MLS, so they are out there, and of course if you pick a part of town that is likely to have a high rental or low income market, you should be able to farm the hell out of it and pick up some off-market deals. :-)

PMs are great if you choose to go that route for managing a property and existing tenants however screening applicants is not a job I would ever farm out to someone else.

BUT a tip to start is to do comps analysis in the same way you do the numbers - note the design trends in your area... country farm houses will be different from Philly row houses and NYC apartments.

My husbands fico is 640, after working in a dairy farm for 14 years he changed his job field to construction work.

the other place were I have seen fortunes made in real estate is in Timber and in path of progress farmer bought the dirt outside of town town expands  DR Horton pays 10 mil for their farm..I see those.. but someone who is staking rentals with only 20 or 25% equity and making a 100 a month or 200 month.. while I have clients that do well. make 20 to 30k a month and live a nice lifestyle .. they are not in the same league and they work their but off for it.

We are in New York and our farm area is mainly Suffolk County but we are open to investing in other areas even out of state possibly.

I currently teach high school, but I am also a pastor.