You could consider house hacking to reduce out of pocket expenses.It’s definitely an appreciation play not a cash flow play but with the federal government here appreciation is consistent - you won’t get super high appreciation like some places but also don’t get high depreciation as well.

Any other strategies for using 1031 money in this situation or is it only for purchase of a new rental property?

Would you see yourself using a tool like this, or is it just another shiny object that’ll collect digital dust?

I'm a Wholesaler based out of Shreveport-Bossier City, LA area.

Here’s why you should consider investing in this growing market:Affordable LandFlorence offers affordable land compared to larger markets, allowing investors to secure property at lower prices with strong potential for appreciation as the area develops.High Demand for New HomesThe city’s growing population is driving demand for new construction.

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

The best thing to do would be to consult an attorney, but likely, that is not an option for everyone starting out.I'm not an attorney, and this is not legal advice, but some of the information that we include in our contracts is:- A clear scope of work - Payment schedule / Milestones- Change order approval process- Allowances for finished materials- Reasons to terminate the contract- Expectations for start date (X amount of time after final plans /permits are received or X amount of time after the contract is executed)- General schedule and timeline (This is where you could specify an end date - however it may be better use incentives rather than liquidated damage if your general contractor is late - we've done both, but found General Contractors respond better to getting something if they get done early instead of being punished for being late. 

@Saurabh Kukreja we don't recommend investing via zip codes - too broad of an area.We've mapped out all of Metro Detroit and categorized Cities & Neighborhoods by Class A, B, C, & D.We take assisting investors very seriously, just read below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Furthermore, some installations, such as his antennas on a pole, are on my land.I am a reasonable person and don’t have any issues with this.

This is such a great place to learn and meet people.