You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots. 

Great post @Garrett Brown, we have a vibey outdoor hang with string lights, plants and seating by a mini gas fire pit.

and the demand is amplified when it has a proven rental history, furnishings and a transferable or easily obtainable STR permit.

This also protects my downside risk because I could very easily lower my rents if I had to in a market downturn and compete vs. being forced to sell because of losing money. 

Let’s say you own 1/2 of the $700k property as a TIC and can do a 1031 easily.

OK, good luck with that if you have easily accessible assets like a home you don't live in.Meanwhile, what are the odds a term life insurance policy pays out? 

You can easily do this on a spreadsheet and it will take less time to track than find and learn a new software.

A quick google search of your state indicates the following regaridng timeline to give notice:30 daysFor tenants who have lived in the property for less than one year, or have a lease for less than one year60 daysFor tenants who have lived in the property for more than one year but less than two years, or have a lease for more than one year but less than two years90 daysFor tenants who have lived in the property for more than two years, or have a lease for at least two yearsI'd definitely touch base with an eviction attorney in your state to ensure you are not missing any steps and to have the attorney as a backup option in case the tenant does not vacate easily.

If you have the data easily available, can you give us cash flow figures throughout the 13 years? 

The point of the contract is to provide value to both buyers and sellers and  this deal saves the buyer over $1M in interest and easily $100k in furnishings while getting the seller their full equity and saving buy side/sale side realtor commissions.