Jack the interest rate up for a big fat lender credit that'll cover most or all closing costs. 

The tax benefits are not exactly the same as a 1031 but you can receive a tax deferral on the amount of your gain (as well as a 10% reduction on the current taxes when due in 2026 and elimination of future capital gains when held for 10 years) while only investing the gain, as long as you do so within 180 days.

Yes, it won't be efficient, but you'll have to ask whether efficiency is worth a fat purchase price, unreliability and short life-span.2. if you have a modern furnace, mid-efficiency and high-efficiency are two of the main types.

Asking price to sold price is 99% in my area - tons of price reductions but values are up YOY.

But what about if they're sitting on a big fat sum of equity they're tempted to spend on a bigger better home?

It is sustainable only until the next increase in the cost of living, the cost of money or the reduction in the supply of money.

The person hosting or gathering groups like this usually gets a nice fat cut of the sales of the guru materials.

Also, keep checking for a price reduction -- you're not too far off, so a single reduction will likely put you in position to pick it up (assuming other investors don't have the same idea).

They were fat, dumb, and happy, while everyone else was losing everything.   

Banks love to lend on them, Uncle Sam gives all kinds of tax benefits, your tenants retire your mortgage and pay all your expenses INCLUDING maintenance and capital improvements, they cash flow, and they appreciate.Most of my investors realize an 18% annualized return or better on the apartment deals  we do (**includes cash flow distributions, principle reduction, appreciation, and tax benefits) and never have to qualify for a loan or fix leaky toilets.Smart investors have some kind of multifamily investment in their portfolio.