Well, a lot of coaches and trainers come into teaching others with the mindset ‘if it worked for me it will work for you.’

Also, unless the original post was edited, I don't see any place that would imply this was done for the purchase of the building. 

@Derek DombeckDerek, does the irs not have a minimum implied interest rate to stop this income conversion?

By taking deposit for rent, you imply there is no damage expense.I don't think what you did is necessarily a bad approach.

The art of the deal implies you both come to the same number at some point in time.

Originally posted by @Fili Aguirre:@Marcus Auerbach the problem was that he didnt even let me talk or make an offer, so, he didnt really know if I was going make a lowball offerOf course not - your answer was implied.

Hello, thank you for reading and answering this Q.I want to convert my primary SFR to a rental, longterm, selling after aprx 8-10 yearsbought at 280k /owned for 10 yrs. Worth today about 560k. Filing as single, unmarr...

Implied Agency Definition.

I did not intend to imply that you could use a 1031. 

No.And I'm not saying that to imply anything about the incomes of the folks with criminal backgrounds, a lot of the folks with income sufficient to qualify end up self employed in some capacity, higher income than area median income (and in my case it's Bay Area median incomes we're talking about).