In your situation, depending on what you want to do next, a 1031 Exchange could make a huge impact.

Building another maintenance hangar on that same basis in exchange for a slice of the shop's revenue.As @Joseph Zimlich pointed out, the terms of the ground lease are going to be critical - especially if the improvements revert to the municipality at lease end.

- most lenders will not be ok with your having secondary debt for the down payment on the next property. are your parents open to instead PARTNERING on the next one in exchange for, instead of a fixed rate of return, a % of equity/cashflow?

Or maybe you'll make more per property by doing a 1031 exchange and buying a couple smaller properties.  

How can I help you achieve your goals in exchange for you helping me?)

The next step would be for you to ask them (after you have vetted them of course) if you could put 10k into their next deal to help fund the rehab in exchange for watching the process.  

@Todd Powell Normally 1031 exchange happens for the same company.

Also there are weather issues with Indiana winters and pipes possibly freezing, thunderstorms and hail damage2) Knowing how long to hold onto a property, 1031 exchange it to another property or DST, or in some cases sell it and pay the small capital gains tax (if any) to have less headache. 3) Underwriting the deal incorrectly (factors: local appreciation, rate of rental increase, economic growth, gentrification of area) and being overly optimistic (a renovated 100 year old home is still going to have problems).

It's called the IDX data exchange.

Selling the property isn't part of my plan, as I intend to perform a 1031 exchange for a mountain home in the West closer to my retirement, which is still 8 years away.I would greatly appreciate your insights and advice on how to navigate this situation.