And if your net savings are more than the cost of the exchange then it's a net win for you.My favorite client of all time was an elderly person who was selling a small lot. 

You also need to do a capex budget that includes roof, floors, hvac, appliances, hot water heater, exterior paint, etc.Go to your favorite flooring store and ask for the commercial warranty.

Cash for keys is one of my favorite land-lording strategies.  

Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey. 3.

I would say my favorite aspect is that my strategy for a single property can easily change depending on what the market is doing due to no zoning laws.

Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey. 3.

My personal favorite is Zero to One

And I help a lot of investors, and one of my favorites to do if your buying your first rental is if you have good credit, there's a local lender that offers a loan product of only 10% down 30-year fixed as a second home loan.

As a side note, I am specifically interested in foreclosures and pre-foreclosures, so maybe there is a crowd favorite for finding these types of properties?

Check zillow, apartments.com, craigslist, your other favorite apartment rental websites, etc for actual rates on comparable units in the area.