If you are ever looking to buy something in EP let me know, I'm your guy!

This is something we're interested in providing for our company's employees including ourselves.

Your basis is going to be set by what you paid for it and to be eligible for a 1031 has to be an investment property, not something bought to be resold. 

Because if something goes wrong you will call HUD and complain!”.

Live In Flip: This is where you buy something that needs work as a primary residence with the intention of moving in 2-3 years.

Since it's my first rental, I want to start with small, planning to put 20% down, <=$60k, thereby targeting something within $300k. 

Right now my qualifications are basically - read some books by really smart ppl, joined Bigger Pockets, and have enough capital to buy something modest for maybe $500k… I don’t have a process yet.

I something around $150k-$170k, that is obviously not enough to purchase a whole property and I'd probably need Hard Money to cover the rest of the investment.

I would try to do something real estate related.   

@Sean PetrieYes it’s a bad time unless you find some stellar off market dealThe other option is if you are looking to hold something for 7+ years then usually never a bad time to buy