After taking all of this into account, what would be an ideal property to invest in?

Ideally, I'd like to have 5+ paid off small multifamilies by the time I'm 55.4.

@John Teachout  - I do not have to partner ideally, however the idea came up as the potential to purchase larger projects would be possible by partnering.

It's ideal for BRRRR investors because they'll only require 90 days of title seasoning to use 75% of new appraised value rather than a loan to cost approach. 

v=_Yhyp-_hX2sAnd next time your down in Nashville maybe you could pick up a couple of those Sparkle Suits they are famous for.Good Luck!

@James Wise I play to just work for a real estate company first, I ideally want to invest but I plan to "test the waters first" and see if I like it.

It was a 4/1 that I converted into a 3/2 with a master suite.

The house needed some work but nothing too crazy, and we also did some upgrades to make it more desirable to a potential tenant/buyer down the road including adding central air and converting the half bath to a full bath with a nice tiled stand-up shower to make a full master suite and a 3 bed 2 bath home.

Can you present an ideal market as the target investment?

Need to find large value add multi-family for 1031 exchange (light to medium rehab ideally) primarily hunting in DFW, Orlando, Phoenix but open to deals in other states, MSA's.Other markets/states under consideration are anything in PA, CO, ID, TX, OR, WA, AZ or the Carolina's.Don't really want to go under $800 per month on unit averages, ideally $1000+.Price range of $10-$50 million.If anyone knows, or is a producing commercial broker in these markets, I would love to get in touch!