They have more skin in the game then you do.Make sure you get clear title.

Maybe it is more if you paint them vs hardie board siding?   

If you qualify, you can use passive losses, like those from depreciation, to offset your active income.

The structure for this is a discounted sale, lease back, buy back.One of the partners is a qualified intermediary as well that understands the plumbing behind it to make it 1031 compliant.If you have any questions on that - feel free to give me a buzz.

Do we need to go through the whole condemnation process to qualify the transaction for a 1033 exchange?

They have "minimum" credit scores to qualify for a loan, but the higher the score doesn't change the interest rate.

Purchase price: $1,900,000 Cash invested: $750,000 12 bedroom, 12 1/2 bath, home built in 1905 that was previously a rooming/boarding home.

Some states (NOT ALL) offer reciprocity for real estate licenses in certain other states, BUT that just means that if you have a license in one state that you can use that to qualify for a license in other states that offer that reciprocity.

What makes it slow in this case is that you don't really start seeing real cash flow until after year five but it's more effective than rentals in that there is little to no maintenance.Sure you can live in a home while fixing it up with the intention of selling it for a nice profit later but I think many people are already doing that and the buyers of slow flips now also have that opportunity without having to qualify with a bank.

If you find a sublet-friendly co-op and it requires an "All-Cash buyer", there could be a good reason.The points you mentioned regarding co-ops are valid but do not apply to all co-op boards across this market.