Because when you try and sell 123 Main street a 3 bed 2 bath house on Craigslist without a RE license you are violating CA business and professionals code.

I gotta sleep off my drunks sometime :)@Sean Williams, In general 1031 funds can only be applied to purchase of actual real estate and the costs necessary to close that purchase. 

Aaron, your vetting should be the same as most other professionals. 

In the next 15 months I plan on having $90k in savings + 15k in equity, I'll have listened to all 270+ podcasts of Bigger Pockets, read through a list of 30 books I have determined critical to my success, and formed a TEAM of likeminded business professionals. 

The "secret", in my multifamily experience, is that, come due diligence, you'll need at minimum a licensed property manager and/or general contractor and any other certified and bonded professional necessary for your project to do their jobs in inspecting and estimating costs.

@Jerel EhlertThank you for your professional advice, I really appreciate it! 

This guy isn't a professional.

If the property has been  well maintained (I know, this can be relative), usually $1k is enough to turnover (carpet cleaning, professional cleaning of the rest of the house).

As I keep learning and saving, My problem I’m torn about is, I want a property that will target the young professionals moving to the city. 

I figured this would be a good place to get some advice, insight and guidance from the professionals.