Options of 100k and a good job

[Brendan Reilly]

So I recently discovered that I will be inheriting a piece of farmland. Not all of it but a fraction and we are either going to buy one another out at a deal price (around 50k) or sell on the open market( hopefully around 100k). This presents me with multiple questions. 

1. Can you 1031 a share of a property?

2. I am torn as to wether I will buy one (or 2) nice property or many so-so properties (no trash but with increased chances of falling into a pig)

3. Also one last question. I have been running the numbers and listening to everything I can. I can't seem to wrap my head around how 200 in cash flow a month would ever make sense. Maybe I am missing something but even though the mortgage may be getting paid off and your making a 10 percent cap rate I don't see how you would survive say a roof repair or even afford property management. 

To give more info I am in the Delaware-Philadelphia area, I make good money and plan on dedicating 2k a month of my current full time income into this endevear of achieving freedom. This is probably why 200 in cash flow doesn't make sense when trying to grow my portfolio exponentially and why I'm leaning to bigger down payments. Any help would be much appreciated, if I'm thinking about it all wrong please educate me.

[Account Closed]

You'll receive a stepped up basis on inheritance so no gains and no need for a 1031. 

Bigger down payments leave less for investing and reserves.