You want to be careful not to bite off too much on a first purchase so maybe if more four units or less or available that could be a better starting point with less risk and more ability to learn without potential loss.

To defer all tax you must purchase in total at least as much as your net sale.

I’m looking to raise $160,000 to cover the purchase, renovation, and activation of this new Airbnb property.

Quote from @Jaren Taylor: Quote from @Stuart Udis: Depending on the transaction sizes you are pursuing, raising money to purchase property without debt requires either an incredible network of relationships or devoting a lot of time and effort to raising money.

I have helped many new investors purchase their first property in Memphis and LIT.

The purchase contract makes the buyer legally responsible for the loan. 

Are you purchasing as investment? 

You can find some 2 units under or around $250K but they have been sitting on the market for over 150 days which tells you its not a great deal if it were an investor woud have already purchased it 4 month ago.  

You can increase returns with leverage (that is a mortgage) or with value add (renovations, additions etc).I think cap rates (rents minus expenses divided by purchase price) on commercial and industrial is higher with less work involved, but its more expensive than I can afford--so I know next to nothing about that land.

Land is valuable as I could purchase a new mobile home and install and less costs since utilities are already on the land.