For non real estate investor partners, consider their alternative options, and be in range.

Do I need to register for this room option?

If you're hoping to find a house for $20K, there aren't going to be many (if any) options.

Buying smart is always the best option, no matter the speculation of the market, so if the numbers work for cashflow today with a fixed rate then buy it. 

6 month lease with the option to lengthen month to month at same priceThe tenants supplied a $1000 deposit and the insurance company gave us a $500 nonrefundable deposit and a $250 non refundable cleaning fee.So far, i'm happy with the process although the insurance company rep wasnt very responsive and took much longer to get the tenants in than it should have - mainly because they work 9-5 and no more.Regards,--Dave

It seems to me you have three viable options at the moment.1) Non-renew. 

The question is, do you have the staying power to weather a multi-year storm? 

So, I'm trying to decide between the two options below:Option 1: Buy a couple of properties and split the money from the 1031 exchange for the down payments.

Stoked to see this option open up in Reno.

I'm digesting this info... and looking into some of these options including the pass-through entity which I admit I'm not familiar with.