It is simply a form of sub leasing.

So glad you've already plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.If you haven't already, I would recommend finding a real estate agent that you trust (you've already had a few chime in here with recommendations ;), and also start talking to lenders (banks, mortgage brokers, credit unions, etc.)

Lesson learned for me.

This happened a while ago but I wanted to let people know how this turned out...My title company ended up handling most of it for me for a small fee.

So glad you've already plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.You mentioned that you had solid mortgage brokers lined up, but if I could add from experience...I would recommend that you talk to multiple lenders (banks, mortgage brokers, credit unions, etc.)

There’s a lot of good stuff in there.Auctions seem pretty daunting for a new investor... so I’m thinking that might not be the best place for me right now.I’ve heard similar things about direct mail.

I have been heavily researching this topic and I have laid out the steps to make it possible for me to use this a great advantage!

Having this level of details is a must for me because the more accurate information I have beforehand, then the easier the decision is with buying a place. 

I was just notified by my CPA that a 1031 exchange might not be the  best way for me to take money from the sale of one property and buy another property.

Best luck for me was local banks who understood the property and the market.