It was an amazingly humbling exercise that I would recommend to every investor, given we are at the top of Markets again in many markets.Here is how I analyzed things.

A calculator app like Robert suggested would be very appreciated.

@Nicholas Aiola brings up the most valuable suggestion, although subtly."

Hi all,Can you please suggest a Property inspector in Memphis, TN 38134.

@Darryl JacksonHow much you need can depend on many factors , the purchase price of the home , the rehab costs etc.Also if you are going to pay all cash or leverage ( hard money or private money loans etc ) If you don’t own your own home I’d suggest doing a live in flip or house hack as you can take advantage of low money down loans like an FHA loan for 3.5%Many people have used this as a way to start out and gain equity that they then use for other deals .It’s possible to do deals without your own money if you do a joint venture type deal but could be hard to find someone to partner without experience, might have to give up more than half the profit but still better than no deal .

I would assume the 1031 would account for that as far as my parents are concerned but not sure for us as far as our ownership (which would not be qualified as "1031" since this is a primary residence)Does anyone have experience with doing something like this or suggestions? 

I suggest you leave it alone.

@David Marshall Thank you for the suggestion.

The only concern I would have is that it was originally an ALF but was converted into apartments so that suggests that the market could not support the business as running an ALF can be costly.

The issue you brought up about wealth advisors who have an incentive to sell you a products is a large one and that's why I believe Omar suggested a fee based one whose incentives are more aligned with their customers.