Hello Experience Landlords,Happy New Year ...I have been struggle with this question for a while now, and I am struggle to find a reasonable solution. 

The only potential solution I see is a 1031, but if I buy this year, it will be a personal residence.

What would be the pros/cons and is it a viable solution down the line?

Also, if we wanted to pull permits for work that's already done, I assume it would require us to essentially tear everything down and redo the work from scratch.

I am getting closer and closer to pulling the trigger on my first investment property and hiring contractors is definitely at the top of my list as biggest worries. 

I found a 3/1, 1700 sq ft for $55k that need a total renovation.I would assume a $25-$30k renovation.It would appraise for $130k.Option 1:Buy, fix, flipOption 2:Buy, Fix, pull cash, keep as rentalthoughts?

I pulled them and updated the lease to read no dishes, I have no balconies or tenant controlled outer areas so I don't have to be worried about violating the dish rules.Companies never remove them when a tenant leaves and they rarely reuse them... so they become a dish graveyard.

Singles have pulled back slightly, but the multi market appears to be going strong.  

You will have many chances to pull down deals on your own, but this might be your only chance to learn from your father who sounds like a very successful investor.

First of all, you started off with "My friend.....Obama" enough said (I'm sure you have absolutely no political humor, but I don't care), 2d If I did write that book, even if it was on the bottom of the best sellers list, I'd still pull in a bigger check than your accountant job