If you start a 1031 exchange now, think of it as a purchase option that gives you the right to defer your taxes if you find the right property by July 15.  

I am not sure about Newport News but in my market, you'll need 5-10% of the purchase price to get the deal in contract.Without a contract or a Real Estate license in VA, it could be a waste of your time to go out looking for a buyer.

Unfortunately it can be difficult to identify legitimate offerings both on the lending and wholesaling side but if you stick to larger more reputable groups you should be in good shape.As far as requirements, hard money / private money lenders will typically require you to put at least 10% down on the purchase, often more.

The biggest mistake many make is purchasing their first property in low barrier markets with poor fundamentals  solely because the real estate is inexpensive and it’s the only place where they can afford to buy.

Purchase price: $240,000 Cash invested: $38,500 Sale price: $355,000 Partner Driven, in collaboration with Ivan West, successfully completed a fix-and-flip on Woods Drive, Decatur, GA.

How have y'all been purchasing your investment properties?

Purchase price: $218,000 Cash invested: $12,000 Sale price: $280,000 Partner Driven, in collaboration with Garrett Moretz, successfully completed a fix-and-flip on Sardony Lane, Charlotte, NC 28213.

Purchase price: $220,000 Cash invested: $5,988

They changed the laws a month after I purchased. 

My first property is a single family home in a great area that I also purchased-200k- as an owner occupant for little money down and I am managing.So both previous properties have really been nothing alike, and there are pros and cons to both.