When you get into larger amounts the properties get better quality and tend to be much more passive.Some will just do a 1031 with funds into a new property and then a cash out refi which is considered a loan.Most kick the can down the road with more and more properties until leaving to the heirs in a stepped up basis and wiping out all the built up deferments.The cumulative value has to exceed what you are exchanging out of but it does not have to be one property it can be multiple to total the needed amount.Not an expert on 1031.

I'm no expert.  

He explained to me that in TN it is no longer called dual agency, but rather he becomes an "intermediary" and thus is unable to provide expert advice or guidance. 

I am no expert by a long shot but I would recommend you seek out opportunities to get involved in other RE areas (realtor license, wholesale, apprentice, etc.) this will give you a chance to learn and earn at the same time to build some reserves.  

No tips from me, the experts above nailed it. :)  Just hello, and hope to see you around.

As far as advice, there are lots of experts...some pretty good, some not so good, and some well...you know.

If you decide to go forward, I would specialize in a tight geographic area with a particular state and focus your efforts on being an expert on these counties. 

As a credit expert I present on this topic quite frequently.

I'm hoping to use this site to learn from professionals and experts alike and hopefully make a successful career.

Sit down with an agent that is a market expert and devise a plan with him or her.