Low key, low pressure but be a resource for them.  

Of course a year from now the landscape could be entirely different so it is key to keep your powder dry and options open till then.There are a couple of twists to a 1031 that may allow you to still benefit from one and yet re-position your money to your benefit as well.1. 1031 into an alternative real estate investment.  

We don't have the credit and we don't have a large sum of money available either so I think we're just stuck untill we get one of those key items.

Here is what we are doing...Re key home to make new tenant keysClean up and shape the landscaping and trim tree in rear of homeRepair exterior wood - Repaint all exterior siding and trim.Repair gate / fence leading into backyardReplace all kitchen cabinets with new cabinets - Paint white, then antiqueNew st steel stove, dishwasher, and vent a hoodNew countertops (kitchen)New wood laminate flooring in 2 living areas and hallway - 1st floorNew tile floor in downstairs bathroomNew vanity and sink in downstairs bathroomTile walls around tub to replace old tub surroundNew brushed nickel light fixtures and fans throughout the homeNew carpet and pad on stairs and upstairs hall and bedroomsNew tile floor in upstairs bathroomNew vanity and sink in upstairs bathroomTile walls around tub to replace old tub surround upstairs bathReplace old / damaged sheetrock where needed (mostly downstairs)Repaint all ceilings throughout homeRepaint all doors and trim throughout the homeRemove all wallpaper and paint all walls standard neutral colorsReplace all interior and exterior doorknobs and looks to new brushed nickel look to match lights and fansReplace all cabinet pulls and knobs with brushed nickel to match door knobs and lights/fansLicenced plumber to repair and service all plumbing fixtures / pipes to ensure no leaksLicensed HVAC technician coming to service and clean the heat and air to ensure it is working property."

I probed the wood underneath the frame with a car key.

Networking is key in any business, or pursuit.

Being in a college town, the school year is your big driver.

I am looking for advice on how to start and where to start just trying to learn all i can before making big mistakes and paying for them later, I am a big believer in education because i know it is the key or shortcut to not waste unneed time.Thanks 

If you are interested in learning more about Cap Rate I would suggest the book "What Every Real Estate Investor Needs To Know about Cash Flow and 36 Other Key Financial Measures" by Frank Gallinelli. 

I am also working on my real estate license online before/after work and on my lunch break.The amount of information here is awesome and I love the attitude of the founder and they key people here.