Keep in mind taxes go up as do rents.

Assuming property taxes + insurance added don't go above $1,100 total, you could maybe make this work. 

If they seller finance, we have the deed, but they cant 1031 because they would need to find a property ASAP which they want to avoid.

Again, consult your tax accountant. 

I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate. 

You get out there and put deals together with your eyes wide open to avoid as much as you can. 

It's going to offer Strong economic growth, Appreciation (especially in DFW), Tax advantages (no state income tax), and a Growing population, including infrastructure and amenities. 

Am I setting myself up for a tax nightmare?

Hi Ricky,Being in operation for 10 years with mid seven figures of assets and NNN leases,it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp  or a C-Corp.It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

When you’re confident in your numbers, you can negotiate with clarity and avoid being swayed by emotions.Understand the Other Party’s MotivationEvery seller has a reason for selling.