I think 1031 is out of the question since the timing would have to be unbelievably perfect for it to work and I risk having to pay the tax anyways.I spoke with the realtor and then I spoke with my accountant again, and I think I'm going to just sit on it for now.  

I am making it a goal to purchase one investment property by the time I'm 24.Kim - I have been reading up and it sounds like the perfect way for me to get started - while keeping my mortgage nearly free if I decide to live in the other unit, which is what I would most likely do.

I wouldn't ever consider tearing off a perfectly good roof for no reason, but this one has multiple spots where its leaked through the ceiling.

Perfect thank you  

Makes perfect sense and things clearer getting others opinions and advice.

After about 3 months, I had circled back on my list a couple times and called a big time broker in the area to remind him of the purchasing criteria doc we had sent him and to let me know if he had anything.That’s when he said, “Yeah, actually I have one that meets what you want perfectly that’s been under contract quite a while, but I just got word it’s about to officially fall out of contract here in the next few days.”

To my surprise I found beautiful, perfectly sized red potatoes.

HVAC - Need to replace electric baseboard heatingKitchen - Refinish Cabinets & Replace 2x Counter topFloor needs to be updatedNew appliances (all electric)Bathroom - Bathroom needs update (Bath fitters, new vanity/sink)New floorReplace 2-4 exterior doorReplace 3 windowsReplace 2 large window (Size of 2 windows)PaintReplace CarpetsPotential foundation issueOn the plus side the plumbing and electric is working perfectly.

I'm a big fan of turnkey and think it's the perfect way to get a start in rental property investing.

I feel that it could potentially be an investment, it's a perfectly fine house and needs minor work, all of which is cosmetic.