A licensed general contractor or engineer should be consulted to evaluate the wood flooring structures as well as the crawl space ventilation in regards to the moisture and damage concerns.

Going forward, what is the best way to structure the partnership so we can 1031 exchange in the future?

A fee-only financial planner or real estate-focused CPA can help structure the sale, financing, and new purchase in a tax-efficient way.Good luck!

Thank you for the welcome and it’s a pleasure to meet your acquaintance, yes I definitely plan on starting off small and building a solid team so when I am ready for multifamily units, I will have a strong structure 

I really liked finding the probate houses there, which often have great structure and outdated paint/carpet.  

Inventory has hit a 6-month supply, up about 90% from last year. 

However, I want to ensure I'm properly structuring deals, receiving legal and fair compensation. 

It might not need a full replacement if it's still doing its job—keeping the rain out and protecting the structure.

It depends on the structure but I agree with you.

As for a Home Owner Association (HOA), whether it needs to comply depends on its legal structure and tax status.