This will help you understand their motivations, which can be crucial in negotiations.

For the most part, I think I understand the basic idea of a 1031 Exchange.

The key will be to remain flexible, understand the local market dynamics, and position themselves to take advantage of the eventual boom when the project comes to life in 2025.

It doesn't make sense to you because you still don't understand the strategy.

If anyone is willing to share their experiences, advice, or point me towards resources that could help in understanding the market better, I would be immensely grateful.

@John Cooper I can understand your frustration.

None wanted to give me at least an estimate without architectural drawings, which I guess is understandable.

You have to be honest with yourself, understand the risks and assess if you can afford the negative cash flow.

Did you speak with them prior to purchase to understand their process?

If you are early in your career (would understand not having a lot saved early on) you should let your current job run for 8-10 years and save as much as you can (as painful as it may be, but remember building wealth isn’t easy either or everyone would be wealthy).