the 1031 portion carries forward indefinitely the gain and depreciation recapture.However, the one gotcha is that if you sell a property without a 1031 that has pent up depreciation recapture you will have to pay that.

And you can do a 1031 exchange for the remaining profit and depreciation recapture deferring that indefinitely.  

So yes my return on investment would be indefinite, I'm not sure if the $160 a month is a great number. 

(there are other tenants (excluding the firm) in so there is additional rent other than firm paid rent)  I need advice on buying in (or not) -- i'm effectively stuck as a part-owner of the tenant indefinitely, so i'll have to continue paying the rent whether or not I buy-in. 

You can do this indefinitely until you've maced out the number of Freddie/Fannie loans.

In terms of goals, it has always to been to hold the property and rent it indefinitely.

Are you using your mobile home as a rental indefinitely? 

Do you want to wait an indefinite amount of time to buy at the bottom of the market or do you want to buy a cash flowing property tomorrow that might lose value on paper, but will eventually recover?

@Ryan Riches That's not on the table at this point (owner occupancy) - they are considering density restrictions and were supposed to take that up this month but it's been indefinitely delayed after the last town hall. 

And certainly not something to cancel a contract over bc it is something that is just going to pop up again.As for NJ attorneys, it would be great if they followed the contract (it would make my life a whole lot easier :) ) but the first thing that they do is disapprove the way the contract is written and extend attorney review indefinitely until all parties agree on changes made by both attorneys and then dates start ticking down from the end of review.Side note - I actually just started podcast #222 and should be listening to it over today and tomorrow!