With a really resourceful and great community (at least online so far) http://www.dfwreiclub.com/ Staying active on BP you should get plugged into various wholesalers.

Is it possible to do when you are active duty?

The activities of the property will continue to be reported on your schedule E.Where it can affect 1031 is if you contribute the property into a regarded entity it becomes the tax payer for the property so when you later sell it will need to do the 1031 exchange and buy and sell.  

I would also consider checking out the DREIA (dade real estate) And last but not least stay active on BP!

So I am just now getting active on the site.I am an R&D supervisor and coming up on semi-retirement. 

Good to go to a few of these, then join a local REIA of active investors!!!!

@Ronald Rohde is very active in the BP community and may be able to help you with entity formation.

I am from Wyoming, I live and Andrews, Texas and I am currently actively looking for real estate in Lubbock Texas.  

Reinvesting it has no effect on the tax.Reinvestment within that activity, such as if you have a rental and if you spend that 15k to repair the house, which is expense, you wash out your income. 

I have no background in real estate other than buying and selling three different family homes, but the podcasts have turned me into an addict and now I'm actively trying to hunt down my first cash-flowing rental.