The other is in the low 500s but stated that this is due to a car accident totaling her car and is in litigation, so she is not paying on the loan. 

Am I doing something wrong or have I just not found a good enough deal? 

The don't finance evert repossessed property but usually only the ones in the best condition.As far as being a Real Estate Professional for IRS purposes, its hard to do as it requires a minimum of 750 hours a years devoted to real estate. 

If SEC gets enough complaints about her, she might end up in jail.

If you want to have an electronic form, iphone's Notes or Google Sheet would do.

Do you recommend starting with a duplex, triplex, or fourplex as a first purchase?

Hi, I'm selling a multi family in Spokane, Wa and when all is said and done will have about 450,000 dollars that I can do a 1031 exchange with. 

Here’s my thought process:If one has cash to invest in RE, by definition that means the investor’s income is greater than his or her monthly expenses.

@Drago Stanimirovic I do this all the time. 

You could do a 1031 exchange.