And to take out a line of credit on the property you are going to have to buy at a major discount.  

Also, if the property is underwater, you could sell off the remaining UPB at a deep discount, 3-9 cents on the dollar, if you wanted to be scrooge about it.

It is a great philosophy but requires sellers that need to sell vs sellers that want to sell when you get into terms or discounted cash offers. 

Everyone loves a discount.  

This work for rent sounds bit extreme, but I have definitely heard of legitimate, capable workers who is willing to take a discounted pay for 1) long term, regular job and 2) dree housing.  

True, the market you buy into may be different (which has its own challenges if far away) and may not be quite as hot as the one you sold in, and you may still be able to find a great deal, but it will still be hot and very difficult to do without paying retail, which is always a big no no for me personally.I'm not saying there aren't cases where this could make sense, but I don't see this as one of them as she could just as easily sell now or two years from now and still do it tax free under the primary residence exclusion and she could still roll the proceeds into another investment property or anything else she chooses for that matter without messing around with all the complex moving parts and restrictions of the 1031. 

At the same time I'm patient, I'm not going to buy just to buy, I want deals and will only buy at a discount.  

If you are not getting that going in then the property better be severely discounted for the extra risk being taken on.   

@Tyrone HardyInsurance and LLCs are not mutually exclusive.

Make sure your time is well spent building up a bigger listIf you need help with software, add me and I can hook u up with a discount code.Good luck!