What was the outcome?

If you start with class D the most likely outcome is that you will learn a lot in a short time and then either trade into better neighborhoods or just get out of REI all together.

Hey @Dave Foster, as someone who plans on selling on a 1031 exchange in the next 12 months, I have a question:  in the scenario for the buyer you outlined above, it doesn't seem particularly beneficial to the seller, because if they keep the note outside the exchange they're paying taxes on a boot that they wouldn't have if they got a different buyer who could meet their price, or they're having to replace with outside cash the note inside the exchange.If I were the seller (and like I said, I will be in the next 12 months) I wouldn't like either of those outcomes. 

The solution I outlined above is a cheaper, faster and more likely to result in achieving the outcome sought by OP. 

What was the outcome?

What was the outcome?

What was the outcome?

And the fact that both parties were represented by knowledgeable , experienced real estate attorneys insured a framework in place for the best possible outcome.  

In most cases, this will be the right outcome for the seller.

You had one desired outcome that was outside of the parameters of what we were able to make a reality.