Not to mention perspective is everything; I can about promise if you go in thinking the first year won't be any good, it'll be worse than what you think.

@Chris PlummerThanks for sharing Chris, I agree with everything you mentioned.

I am focusing on the brrrr exit strategy as well but I guess I should have also mentioned that I am also interested in commercial real estate investing as well mainly apartment buildings since I can utilize forced appreciation better with increasing my NOISo I guess my question really is this...

@Jonathan Klemm thanks for the mention@Jane Mun this is definitely a unique type of case in terms of compliance with the Building and Zoning Departments.

The DSCR was mentioned to me, but I do not know the ins and outs - upside and downside. 

Just wanted to prove to myself that I could get in and get out with minimal liability and investment.. not to mention minimal time applied to make the deal happen from start to finish.

Or if you can find a young, hungry agent who will work like a dog to help you with this, despite everything I mentioned above, then that's viable option, too.

You didn't say what your credit was, but if this is your option based on credit, it might serve you to wait a few months until your credit is at least 660 where you have MUCH lower costs available to you.

The 2 areas where I invisted are places that we vacation in personally, but I also know the history of rentals for 10+ years. markets always shift so spending time and studying markets is great advice as Collin mentions.

You'd have to wait, and it better actually if he 1031'ed into a new property and then lived in it...Otherwise, just another investor who didn't think through his exit strategy and unwilling or unable to pay the tax for his gains...Good luck.