As for cash reserves, that can vary based on the age of the property, condition, location, etc...but I've always hear $10,000 per property (scales down per unit if you buy multiple) is a decent starting assumption.Flipping is active income (not bad for building wealth in the short term), buy/hold is more passive, and cash flow is great (playing the long game)...military installations often come with a decent amount of buy/hold opportunities due to the housing allowance service members receive.lower end is okay...if the neighborhood is.

I left the Navy last fall and my wife is still active duty here in Jax so if you have any questions, I can relate to your situation.

Im actively studying and learning about it!

There are some other intriguing and lessor known applications for turning 1031 from active into passive. 

Once you leave the employer, you can transfer those assets to a self-directed IRA or (even better) a Solo 401k, if you have self-employment activity.

So I decided to create an account and try my hardest to become an active member of the community.

@David AvetisyanI have actively dropped all contingencies other than appraisal.

@James Smith If the purchase is in California the contingencies are all considered active as opposed to passive.

I have a SFR investment property here and have been actively managing it the last 10 years and counting.

I am tight on cash right now as I started investing 3 years ago and have been actively buying and updating my properties.