For questions about 1031 exchanges find a licensed 1031 intermediary.

These properties were exchange properties from a 1031 transaction several years ago.

How can I help you achieve your goals in exchange for you helping me?)

If you can negotiate a lower down payment, it would free up more cash for you to invest in improving the property, such as adding a nicer backyard with a jacuzzi and more backyard activities.Another option could be to negotiate a lower purchase price for the property in exchange for a higher monthly payment to the owner.

There are many neighborhoods in Houston that score in the 70s and up on AirDNA, so it is a good market, but you need to be precise about where you're looking.2 - the submarkets within houston that perform well for STR are nowhere near your price point. continue saving or choose a cheaper market. you're looking at the fourth largest city in the US, and the biggest city in the most moved-to state in the union.

In exchange for his 49%.

Anybody have some sample wording for a seller carry back mortgage note that is held inside of a tax deferred exchange? 

In exchange, they let you take over their mortgage debt and you take over ownership of the property.

Also if owned outside qualified accounts, that depreciation would defer income, in fact, if you consider a 1031 (available to direct owners, not so much to me in syndictions) you can keep exchanging and your heirs get a step-up in basis; the tax on the gain is never collected.

It is currently on the market and we are working with a qualified intermediary  for a 1031 Exchange and looking for financing for two to three new properties to buy and hold for the children and their children and beyond.