Plus a 8 bedroom or even 6 bedroom house is normally considered a party house, because it's exactly what the partiers are looking to rent...the bigger the better.... so you better screen extremely well.

Regardless you need to clear your debt first and to accomplish that you would be better off selling the house and renting. 

Most community owners know better than to actually own and rent the homes in their community. 

There are good opportunities all over no doubt and some are better than others.

Probably cost you $1000 all in and you'd probably get a deal done.When people hear 1031 they think "Overpaying is better than giving a pound of flesh to the IRS, I bet I can get a great price for my apartments from this buyer."

My suggestion is to define why you want rental real estate and then you can source markets and asset classes that cater to your personal life goals. 

Dave McEvoy I have read it's better to have a buyer's list first.

Not doing turnkey per se because I think I can get things very close to turn key advantages at prices better than turnkey deals.

Would someone recommend a better method.I want to start making some offers to increase my chances of getting a property under contract.Thanks in advance everyone!

Also the better you (or a trusted contractor) can estimate repair costs that are conducive to the market, the easier it is to reverse engineer the number and determine the adequate purchase price to yield your desired profit.