There's pockets all over the greater Tampa Bay Area that are B class and up but balancing that with a decent cap rate is going to be tricky unless you either have low cap rate expectations or are will to do value add to the property or being more creative such as using a short or midterm rental strategy or even room by room with padsplit.2) Verify as well the 1031 is going to allow "like for like" into a single family. 

This is of course due to current market conditions and low inventory levels.

For example, an owner headed to foreclosure might sell you a property "Subject-To" where you take over their loan at a LOW LOW rate which changes the math a LOT when analyzing a deal!

I come in and make low ball offers within a couple hours after I walk the properties with the listing agents if I like the houses.

I would suggest speaking to local banks and credit unions.

@Jack Anderson We have seen properties with a purchase price as low as $150,000 benefit from a cost segregation study, but of course, the benefits of a study are different for each person and each property. 

DO - Save your cashola to buy a place of your own.Don't - Do arbitrage if you have low cash reserves.Arbitrage isn't real estate investing, it is creating a job for yourself.

We often end up finding out their credit score or income doesn't cut it only after we've shown them around, which honestly feels like a bit of a time sink.So, I was thinking, whenever someone hits us up on Zillow wanting to check out the place, maybe I could just ask upfront if their credit score is over 600 and if they're pulling in more than $6,000 a month.

You can find the low priced flips in zip codes like 43211, 43213, 43223, and 43219.

@Sridhar D. that's a strange reason unless the tenant needs to fix their credit or save up for a down payment to qualify for a mortgage.If so, I wouldn't hold my breath that they will perform.