I roughly make 55k a year and have about 20k in savings (minus 7k for the down-payment)Would/does this seem like a smart move acquiring this place?

Since I plan on acquiring 6 this year, this will be increased.  

Hi Everyone,So I recently acquired my first buy and hold property (2 bedroom apartment).

We are now well capitalized and should be able to acquire multiple properties to build our wealth and provide for the passive income to supplement our retirement. 

Now my DTI is at it's limit, so I was thinking of acquiring more property through HML, rehabbing, hold and rent.

I spoke with the city and luckily the property I am acquiring is already registered with the city as a rental, but a good lesson learned to call the city and verify there are no roadblocks for future purchases.

When I acquire a new property, I have the seller give me a lease assignment agreement, assigning the leases legally over to me.

I'm not sure how the acquiring a loan will go as I have not been making an income since I was 19.   

I'm mostly invested in stocks, but I hope to acquire a single or multi family home in NH or MA this year.

Hi @Billy Morse, If you bought the property on 10/15/2016, then I assume that it was acquired with the intent to buy, rehab and sell (or flip), in which case the 1031 Exchange would not qualify.