Several weeks ago @Seth Williams had a podcast interview #31 with Brandon and Josh on how to acquire (and what to do with) inexpensive, raw land.

The buyer can not benefit from the 1031 Exchange unless he acquires adequate replacement property to satisfy the 1031 Exchange requirements.

The numbers don't look great, as-is, but I'm jealous of your ability to acquire that much potential income with that small a cash outlay.

I've budgeted for between $12k-$15k in deferred maintenance issues to address over time following a purchase.The current landlords do not appear to be the quintessential buy and hold RE investor, as it seems this property was rental that was acquired via an inheritance.

Remember, while you are waiting for your property to appreciate (if it ever does), the replacement properties you could acquire are also appreciating.

How does one go about acquiring the skills needed to renovate a property.

After a year you could look to acquire a second property using the money you have saved up.

More than willing to work in CA, but would really need a seasoned investor to lead the way.Long Term: Continue to flip, but also begin to acquire multi-family units that have significant immediate equity and/or cash flow at least $100 per unit with a minimum cash flow of at least $800 per month.

The contractor used a hard money loan to acquire the property and would like for me to provide the rehab costs.

I'd like to acquire the property in under my S-corp to provide me the protection of the corporate vail.