I think doing something similar to you ie 500 K liability & 2 Mil umbrella would have been better.

Use an earnest money note for a reasonable amount and that keeps you from out of pocket expenses and you'll have a better contract as the value of the note is the same as cash with respect to consideration.

You can theoretically cash flow better if the stars align with a section 8 rental in North Philadelphia compared to a better situated property.

@Rabia Khan leverage buyers agent experience. look for HOA cash reserves, check how old or recent HVAC is, kitchen appliances etc. the more recent and updated they are, the better it is for you as you dont have to invest in maintenance or capital expenditures.

I hope you get to know you all better!

Hey everyone,I've been consuming BP content (podcast, audio books, the forum, etc.) for the better part of 5 or 6 years.

They'll know the answer much better than the peanut gallery here. 

Would I be better off waiting till they come around again? 

Was looking for some better ideas for tax planning, and saw this one, but then wondering now how much money I need bring to table.I also have another house I could sell, and maybe 1031 exchange with like 300k equity in it, so not sure if that would help.

If it's himself it may be worth it, but if you're getting his team then I think you would do better with the other options.