If you want to connect with me, so we can exchange contact info, I can email them to you. 

So the 600k includes paying off what they owe Unison. in the case of a refinance they would still live there, we would just be getting them out from under Unison in exchange for our names in the title and getting the house once they pass.

I do have to do a 1031 exchange to avoid capital gains.

@Sree Todu,Your intuitions are dead right -- if you carry a note from your sale, the face value of that note is not automatically deferred with the 1031 exchange.  

That said, through conversations with brokers in the area (and evidenced in the comps I’ve created) I’ve learned that this strategy may be slightly outdated as most properties are currently at market rents given the current rental environment, expenses aren’t a realistic lever to rely on to add value, and there is a real risk I get priced out of the market by buyers with cash, 1031 exchanges, and with longer term hold strategies willing to pay an extra $10-20k per key.

The debt would be relevant if you were planning an exchange.  

We are thinking about selling it and investing in Tampa through a 1031 Exchange.

If it's an investment, then you should do a 1031 exchange. 

This could give you a little wiggle room for finishing out the construction details when you know how much you will not have to pay in taxes until you sell or 1031 exchange into the next investment.

I invested in 4 properties from CR of Maryland in June of 2022 in various parts of Baltimore as part of a 1031 exchange taking $$ out of California.