Once you find a house that you believe would be a good rental, meaning desirable to your target market of customers (people within a couple of mile radius of the place), and all of the costs of monthly ownership that you can accurately project fall below the rental amounts that you project that you can get from your target customers, then you have a possible business asset that you can use to produce income, and have renters pay down the mortgage, while hopefully it goes up in value at least with the rest of the economy. 

My thought is I buy a multi-fam (off market preferably) and house hack for 2 years then move south.

I'm a Broker / Realtor & Property Manager in the Metro Detroit market (Michigan) and have connections with lenders, wholesalers...you name it!

Many of the most successful (read as: founders that are worth well into the 9 figures, have survived multiple market cycles, etc) syndicators I know started by working in real estate for other companies.  

Being a forward-thinking investor allows your portfolio to be more resilient in times of economic downturns or market fluctuations.

Or a general rough number for interior painting.I fully understand every market will be different.

Option 1: Keep the home and rent it and cash flow about $2,000 per month while it appreciates.Option 2: Sell the home and cash out.Option 3: 1031 exchange the home into 4-6 units in Knoxville which would be about the same value.More info: Riverside as you all know is a great appreciating market but not landlord-friendly being in CA. 

@Jenna MeditzThere are MANY new options on the market, RentRedi, TenantCloud, Apartments.com, Hemlane, Rentec.

Expecting a 4 months turn around to put back on the market in Early September. 

You got me excited.I thought it was in Toledo, Ohio lolWong market mate.Might as well be in Toledo in Spain haha