Better to buy fewer but higher quality properties.

With both of these strategies, I would look at the rehab as a way to bring up market rents so you can cash flow a bit better, and just sit on the property for a while until you can build up enough equity to cash out or sell. 

This is putting downward pricing pressure on the classes below it, as people move up for a comparably better unit at a relatively reasonable increase in cost. 

I don’t expect free mentorship and believe I could bring value in many ways (paying for time or even better bringing money into a deal where I can learn along side)End goal is transitioning out of SFR and deploying $800k-$1M into a scaleable asset.

Looking to get better and smarter each and every day, putting one foot in front of the other.

General contractor in business for 40+ years with an opportunity to acquire someone else's unfinished rehab for ~$2M with an ARV of $4M - $6M depending on whether we finish the existing project or tear down and start over with a better design. 

I am happy to shoot you a PM with some Chicago insurance referrals...I also know @Jason Bolt here in BP is active in that space.I think the better question besides cost is are you properly protected. 

It would probably have to be a fairly cheap house (or duplex would be even better) but real estate is all about getting your foot in the door.

We don’t buy those and sounds like you're aware to look for a slightly better property yourself already.Detroit has the the highest rent to price ratio in the country…and we’ve found the best balance of price/location within the area.Here is a picture of my portfolio...as you will see.

The only thing better than that would be the first option and actually complete the 1031 and don't pay any tax at all.Feel free to reach out if you'd like to process further.