I am looking at potentially getting into this arena. 

Good morning all,I'm reaching out to tap into the collective wisdom of this community regarding a potential investment opportunity I'm considering.

I have some potential properties that I was interested in pursuing and was considering door-knocking to see if I can come up with a feasible win-win arrangement to purchase the house rather than have them go into foreclosure. 

So I've found a regional vacation market, the Poconos, that seems like it has properties in my price and potentially sufficient cash-on-cash returns to be worthwhile.

A loan option you could look into that will potentially preapprove you for more is a DSCR (Debt service coverage ratio) loan, which is based on the rental income of the investment property you are looking to purchase, instead of based on your personal income for a conventional loan.

You could use a 1031 to avoid that, but then you have the 1031 fees which would also eat in to your potential profits.

Additionally, thorough due diligence on potential replacement properties and their income potential would be crucial to optimize the 1031 exchange strategy.

What neighborhoods have some of the best growth potential?

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It actually held up the potential purchase being owner/occupied.