This will be to complete a 1031exchange. 

It's hard to find a cash flowing rental in this area, but paying all cash certainly helps!

In short, this would be an entirely appreciation-based investment.Given the state of the economy today, with high interest rates and the seller-buyer lock out effect, I want to discuss the pros and cons of this investment at length, specifically in the context of all the other properties / neighborhoods that I have been evaluating. 

The remaining $150K in this case is still eligible to be offset by any NOL from my rental properties from LLC #A.

Then this could be provided to my lender to show coverage. 

We're primarily focused on real estate finance at this point rather than rentals and flips, but we still occasionally flip when an excellent opportunity pops up.

This is such a great community and we value all the comments!

If this is a project for you and you are newer to flipping I would have a seasoned person/mentor help you through this that has done it in the city for example @Joshua Janus as he mentioned it did it.

I think it's fair to say it's beyond normal wear and tear, but I'm not sure how much is fair to say "I'm going to have to deal with this somehow, and because of the scratches I'm deducting x." 

I don't know if credit unions can ever do this stuff?