My .02 "que sera sera whatever will be will be" ................. : )

Qué Será, Será""God grant me the serenity To accept the things I cannot change; Courage to change the things I can; And wisdom to know the difference.""

A few years back I showed a listed multi-unit that had a couple 1800's era tombstones in the cellar.

I've seen some where the studs were literally collapsing into a powder from rot.The last one we did was an old 60's era cast iron tub that we had refinished several times (about $280/treatment) but it peeled.

The 1031 positions the investor into a property that the REIT absorbs as @Joe Sera said in the 721 conversion. 

The property needs some fairly standard improvements: fully updated kitchen (existing is old 1950's era metal cabinetry), refinish floors, painting, reconfiguration of the 2nd floor bathroom and moving the laundry room from the nasty 4.5' tall basement, up to the nicer 1st floor.I used zillow to find the three most recent sales, on the same block and arrived at an ARV of $85k.

The house I chose is a 50's era, pre-fab manufactured house by the National Home company.  

Originally posted by @Tony Sera:@Sam Grooms & @Ben Leybovich Thank you for this thread and the play by play.

Hey @Irko Maurizio Sera thanks for the shoutout!

This is a 1900's era house, and I am thinking that since excavating is involved, I would likely want to replace the water main from the city's shutoff to the shutoff in the house also...Basically, I am trying to decide if I want to continue forward with this purchase or walk away from it...Thanks!