If you are going to be doing the rehab work in exchange for equity then that value needs to be determined up front with a specific timeline that you have to adhere to in order to earn your equity.

I have to agree that a 1031 exchange may not be the best strategy. 

A nice home that may some day make a bad rental but a good primary home An exchange in to a state without state income tax to save that 10% in state income taxes.  

We sold a 2 bedroom condo in San Diego that would rent for about $2K (my daughter lived in one room, exchange students paid $1K/mo) and were able to buy 3 homes in Coos County via 1031.   

I've exchanged our place with another host by on a 1-1 bases.Host share seems to have an interesting concept of exchange available nights but within 5 days.....so what typically is not rented.

Keep in mind that accelerated depreciation increases recapture tax (taxed at up to 25%) upon sale, though this can be deferred with a 1031 exchange.

., deductions, 1031 exchanges), could potentially outweigh your current W-2 salary over time.Suggest a trial period for the first deal, involving him in decisions to build trust and confidence in the process.

The owner wants to sell for a 1031 exchange, and the property hasn’t been officially listed yet.

If this property won't cash flow as a long term rental, you might want to sell and 1031 exchange into a more profitable property.

(5 tenants are original tenants, having been in the homes since I purchased them 9-12 years ago when I was doing more buying.)My last purchase was a 1031 exchange in September of 23 for a new build.