We are in a time crunch as 1031 property identify period is ending and we are loosing our current lease we live in.We sold a problem property and would see about 120k profit, so because sales tax would be significant we are doing 1031 exchange and putting the proceeds into this property then adding cash and buying it under LLC.

Have you identified a lot?

Not every "deal" that identify will work out just because you want it. 

Click HERE to read my recent post response on why it's important to narrow down and identify your real estate investing goal.But you don't have to live in the same state as you invest.

The Edenton territory is identified with the blue dots representing Vrbo property, bordered by the river and sound to the west and south respectively. 

Then, once we identify where the market is at, you'll have more opportunity to strike.I'd continue saving, continue house hacking, and maximize your cash flow and equity.

It's super lengthy, permit-intensive, and cost prohibitive to add value in these ways in MOST situations.Ultimately, unless you have a building inspector come out and literally spell out for you what you need to do, it's going to be really difficult and time-consuming to identify everything the property will need to confirm that additional living space.   

When I say historical, I mean actual historical and not just recent memoryWith the above background, I identified a great opportunity for an investor yesterday that I thought I would share with you all.

@Casey Decker it might help to get really good at identifying certain numbers right away when looking at a property.

@Joshua MartinExactly right…the survey will not only show the property boundaries but will also identify any easements, encroachments, and setbacks.