If it is over priced,  newly to the market,  and needs an investor that can make a cash offer not contingent on anything then it might not be the right one.  

With that being said, do you have enough time to launch into real estate? 

We look to have a nice size portfolio by the end of the year.Were newly married, and is looking to start this business venture together as a couple, so that we can build our future together.

Rehab 2 units a month and move existing tenants into newly remodeled units, rinse, wash, repeat and stabilize the building in a year and refinance after increasing annualized NOI. - Not having done this before, can you see any issues with this plan?

I work full time, self-manage 11 rentals, am trying to expand 3 more houses, plus military, family, launching a business and other obligations.The key I have made is to stream line the process.

Yesterday, out of the blue, I received a call from a newly-relocated professional who may want to rent the house with her fiance.  

@Eugene Beard I haven't done much more than looking online for duplexes but I know of 3 that are for sale right now and are newly renovated but yes not in the best part of indy.

Specifically, the relinquished property was an apartment building, and there were 2 replacement properties I had to purchase in order to use all of my gain. 1 of those replacement properties was a single family home, and the other involved raw unimproved land where I had a rental house built and I needed to use the full value of the newly built home in order for the 1031 to work.

I know that Colonial Capital is launching a new fund as well, and I think their min. is $100K. 

Typical structure for real estate private equity structuring. http://www.pircher.com/media/publication/50_SACArt...I would recommend a newly created Llc holding company own the property.