Make your offer contingent on the seller obtaining the correct zoning @JD DiGiacomandrea .

So is the correct answer to your question "a website"?

Jared is correct, once you have your team assembled they will do all the work required to obtain permits..

Proper techniques and caution needs to be applied to this specific method.  

Everyone knows the stock market always gets 8% and always goes up ;-}Actually, some very smart people are expecting a 40% correction in the stock market.

Guy Hi Guy, I'v posted this before as there are so many folks investing out of state but it is worth repeating.....Investing from out of state is challenging but if set up correctly, it can be a great way to reach areas that can give you a better return.

This means that you could qualify with one method without qualifying for the other. 

@Troy Schwamberger you are correct. the 1.2x is a bank standard for lending, even if you are at 1 and not bringing home money, you essentially are making money. your tenants are paying for the house ( adding equity) the bills are all being paid for to run the property, pay insurance and taxes. you also get to depreciate the property and if you do any improvements to the property or repairs that gets deducted or depreciated while adding to the basis of the property, if it is a capitol improvement.

However, if my understanding is correct, we could actually sell, without the time constraint and rules of a 1031 and still not have to pay taxes on the event, because of the fact we occupied the property as our primary residence two out of the past five years.

Your correct, my market is very hot.