I think you have just proven my point! 

So: Net net - Here is where I am with a dilemma between CHOICE 1 (Chandler Blvd/Ahwatukee Hills/Gilbert - PROVEN areas) for an "OK" return for relatively much less risk where I have to cough up 350K for a decent SFHor CHOICE 2 (San Tan/South of Queen Creek/Coolidge etc) for a bit more risk but better reward and incidentally better cash flow - and yes, LOWER price overall for the property around 200-275K and hence more manageable.With the following baseline assumptions:175-350K price rangeNo PoolDesert Landscaping in back and front yardBuilt in last 5 years and reasonably well upgraded to keep CapX low.Close to many (preferably high paying)  employers Around 3-4 Bedrooms, 2-2.5 Baths.

It's a skill to recognize a deal when you come across one.  

But because they have already proven they can't be trusted an attorney would be a must for me, you're not in the business of giving free rent.

If you don't know what you'd like 5 years out then people are going to be proposing a lot of possibilities that won't have ground to take root in.The fact also stands that, without W-2 income, financing can be very hard without a lot of cash or a proven track record in real estate.

It's the way to get to the punch first when you can recognize the deal before others.

One caution - if your seller is also in PA make sure they understand that PA does not recognize 1031 at the state level. 

But as long as the “right people” recognize these test as legit legally you should be ok.

A lot of syndications look for value creation through repositioning, professionalize management, etc.Looking specifically at “c” it’s hard to reposition the property if someone else owns part of the property and if you keep the PM it’s still the same management.So maybe it’s an awesome building and you’re buying a conservative yield play with the potential to recognize the “bought it right” equity on exit?

Maryland doesn’t recognize gift deeds.