As we recall Lori you chose to not use our services on your own.

Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 How did you find this deal and how did you negotiate it?

Purchase price: $255,000 Cash invested: $100 Sale price: $260,000 3 /1 894 sqft What made you interested in investing in this type of deal?

The major pieces of information you are missing include NOI which includes deducting all of your operating expenses from your gross rents sans debt service, market dynamics (what are vacancy rates and asking rents like in the market the building is located in?)

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.   

Maybe we can do seller financing for the $172K and then get a traditional mortgage after the fact with delayed financing?

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

If you paid $950k and only get $1M after selling costs, don’t bother with the 1031.

Also doing all new plumbing and electric service/panel upgrade to 200amps.

After closing they split profits 50/50 with you.