This simple question is fairly complex.Cashflow is not the number that is taxed. 

As such, we decided to include a fairly large island which can comfortably seat 10 people.

Fair point, but my journey also started a while back. 

Or you'll end up selling those positions fairly quickly and then negating the temporary advantage of the deferred tax from the 1031. 

So, if you offer the market value of the post-rehab house, it should be a fair value.

The agreement should last 4-5 days.If I don't like that home, and I think I want to engage a buyer agent for more in depth services over a longer period of time, then I will entertain other buyer representation agreements, but I will not agree to over 2%, which is the maximum recommended by the Consumer Federation of America.To be fair, if my needs required my buyer agent to show me 30+ homes, or preview them since I am out of town, or something else that took an extraordinary amount of the agent's time, I would consider more than 2%.

I understood that the lender wanted their return & the contractor wanted their fair price for services and in doing so (because purchase price became EVERYTHING) I had the room in the numbers to make it happen.

If they are month to month you can give them 30 days notice, we give 60 as we feel that it is fair.

This allowed me to negotiate a fair purchase price of $125,000, securing a deal that had strong potential for appreciation and cash flow.

Based on the other rents you've seen, what is a fair rent rate?"