I probably should've tried to make sure I was more liquid but the 401k is where the majority of my funds are.

Our medium-term goal is to purchase with the proceeds either 1 or 2 condos in Myrtle Beach, SC for short-term rentals or a larger mutli-family apt building in more or less the same area (not really dead set on the location) for more longer-term rentals.

Up in Saskatchewan, grainland sells for a larger premium above pasture/cattle land.

If you can’t see those kind of posts, look for larger wholesaler companies.

Once I hit my loan paydown criteria, I will do a 1031 and scale up to a duplex or larger single-family home.

Hi @David Ward, this is a great question since so many people are looking at either SFRs in the burbs or larger 40+ unit rental buildings. 

I know typically with courthouse auctions it is a very quick turnaround (maybe 24 hours) from when your offer gets accepted to when the payment is due and you close so you will have to be comfortable with the added risk of not being able to do much due diligence, or will have to scramble to quickly verify you are buying a clean title and to produce the cash for purchase if you don't have it already liquid.

I wanted something slightly larger but the market area has little available.

It was really fun to see the changes come along on the larger house.

Last summer 2019 I sold my business with the intention of using the proceeds as a downpayment to buy a much larger cashflowing business, utilizing the SBA 7a program.