I am interested in REI and primarily trying to understand different strategies related to buying my first investment home.

So, I best I understand it would be as a barter exchange --- the Note for the Title/Deed. 

I understand that when you purchase the replacement property, any difference between the value of your current property and the one being replaced will be taxed.

But boy can I understand your frustration!!

Just be careful you understand the LC legal risks.For more options, you should share the rehab bid!

Just trying to gather knowledge on rental properties in the Rochester, NY area.I’m eager to learn!

While I understand what they are saying I think it is important to keep your rents in line with the market value especially if you are thinking about selling! 

What kind of professional do you recommend I talk to to gain a better understanding?

Thanks for pointing 2 year hold period. thanks everyone for helping me understand and think through this.

To toss out my understanding of becoming compliant is: - do a direct marketing campaign, post cards etc where you say call or SMS this number for help or info...- once they call or SMS you now have the right to reply periodically.