The property is then often sold to an investor who will complete a full rehab.REIT Investing: A real estate investment trust (REIT) is a company that owns and manages income-producing properties.

I bought courses and partnered with mentors on deals and it played a huge part of me gaining the confidence to actually get started with producing deals knowing someone was there that already knew what they were doing and had answers along the way.

@Donna Starkey...I just like to pick on the bad wholesalers...in truth, yes I firmly believe that 99% of wholesalers add no value to the industry...but this is more of an industry-specific position...my clients and I typically focus on higher quality assets with a value add play....and wholesalers simply cannot produce.

As a business owner you are in the business of a business.... whether it's selling, manufacturing, producing, servicing, non-profiting, analysising... whatever sector you are in you are probably not in the business of owning real estate. 

A refinance in a situation like that is problematic because you're stuck with the terms as you mentioned and you don't get access to 100% of the equity.The 1031 exchange would let you reposition that equity into something or some things that would produce much better cash flow and not leave you negative.I've got some educational resources I can send to you to learn more. 

Looking forward to making some connections and learning from the incredible BP Community! 

Problem is, my agent says in that area there are no flips that can produce and $40-$50k return on a SFR.

Unless your rents are extremely high that price range will not produce any positive cash flow.

Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties by @David GreeneAlthough this book is titled 'Long-Distance Real Estate Investing', the strategies and systems David Greene explains in this book can and should be used by any new real estate investor, regardless of if they plan on investing local or out of state.Like Brandon Turner, David Greene contributes a massive amount of incredible content to BP and is the current co-host of the BP podcast.David's book is one of the most detailed and well-thought out real estate investing books I have read.

Dan Dietz Dan,  This is the kind of response that is incredibly helpful.