That's pure passion.  

For a purely investment property, 15% down is the lowest I've seen for convenational loans. 

It's purely to find income property and if that rule works in an area that can still be considered good, with good tenants and minimal problems, then use it.However, in a market like Phoenix AZ, you won't get anything close to that anymore unless you want to rent to gang members.

A 1031 Exchange is technically a “swap” of one property for another, rather than engagement in a pure sale, which would normally constitute a taxable event.That said, finding an investor to swap properties with can be infeasible in terms of practicality.

Is that number a pure guess or is this a historical basis for calculating appreciation based upon geographic area. 

Since this is OOS I'm assuming it's purely a rental. 

Well played :)Also, dismissing appreciation as pure speculation is willful ignorance.

We would not generally recommend such an arrangement when partners are involved, as your administration activities could be viewed as services to the other LLC members and not purely the administration of your own account.  

You could hunker down right away and spend 5-10 years purely focusing on growing your investments or you could take 15-20 years and travel as well.

That, in part, is why Fannie Mae is ok with 90% LTV and a non-investor interest rate: your other sources of income must be able to support both your primary housing, and the second home, so it's not as risky as my trademarked little "unemployed spouses with minimal consumer debt in their name qualifying based purely on rental income" thing to let a married REI get from Fannie's normal cap of 10, to 20.