I am out of state and the only way that I feel that I can get people to walk through the properties are if I find them on market and have Shawna write up the offers. 

The calculation involves:Selling Price: $1,075,000Original Purchase Price: $355,000Depreciation Recapture: $105,300 (taxed at 25%)Capital Gains: Sale price minus original cost, minus depreciation, minus selling costs (~15-20% federal capital gains rate for their income bracket).State Taxes: Since the property is in California, state capital gains taxes will also apply.Given the multiple layers, I’d highly recommend your parents work with both a CPA experienced in real estate and a qualified intermediary for the 1031 if they choose that route.If you need recommendations for professionals in Illinois or California, feel free to ask!

., San Diego, and others)—making it feel like a “natural” choice for a regional traveller wanting to get away for a short weekend. 

The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

It may be a tough pill to swallow if you feel you’re totally right, but you may be surprised at the LEGAL opinion rendered by counsel.  

Feel free to shoot me a message if you think that I could be a resource.

Hope all of that makes sense but feel free to post with anything else. 

You may not be able to break the contract this year but would recommend getting additional estimates going forward if you feel it is expensive.

It normally takes 5+ years of rent increases before you feel like you are doing ok. 

Your ability to close means almost everything and you'll need to make them feel confident in your ability to do so if you target bigger deals right out of the gate.2.