I was looking for a market with a low initial investment cost, landlord friendly laws regarding evictions and other matters, and one that leans more on the cash flow side of the equation than appreciation, but that is not as important as finding a low risk market if there is such a thing.

It was initially listed at $199,000 but it was pretty clear that it was going to sell for more and after analyzing the property I had my agent put in an escalation clause for up to $230,000!

It was initially listed at $199,000 but it was pretty clear that it was going to sell for more and after analyzing the property I had my agent put in an escalation clause for up to $230,000!

Since BRRRRing has been part of your business model in the past, and you were called unsolicited, your initial intent was to hold the property, the IRS might allow this 1031 exchange to go through. 

When I met her I told her that she could sell for more and she stated that she appreciated my honesty and agreed to sell it to me at her initial price because I was honest with her.

For example, if you sell the initial home for $200k are you able to purchase say 2x properties at $205k each, rather than just 1 property at $205k.

However most of the times, properties aren't cash flowing at all after this initial analysis.

However most of the times, properties aren't cash flowing at all after this initial analysis.

This is roughly: Phase 1 includes education on house hacking and small multifamily investing, creating a basic network, and saving any extra cash.Phase 2 is my initial searching and closes with a contract, estimates for renovations and completion and revaluation of the property.Phase 3 is the actual year of living at the property while saving cash flow up to then later pick up a second property.Phase 4 is freeing up the original multifamily for full renting, and securing a second property to repeat the process and gain capitalPhase 5 is securing a mid-size multifamily complex either with capital on selling one of the two first properties or with saved up equity. 

@Nicholas Petz -- I used infousa for my list, and initially made a few phone calls before finding a little hidden (no google my business page) facility on google maps.