@Joe Pankiewicz, The seller might be motivated because he might be getting fines from the City for incorrect use of the property.  

I thought I was pretty well aware of the quirks and ins and outs.

[The accountant] said that it could be in Box 3 for Other Income, but it is technically incorrect and should be corrected."

Purchasing property with the primary intent of reselling (flips) does not qualify for 1031 treatment.However, there's some incorrect information floating around in this forum string.  

It is a 100-year old home with a lot of quirks and issues... but my wholesaler, who has a vested interest in me coming back to him for more business, is telling me it's a homerun for my first deal.

You have a good point Steve but I do not feel I need to compensate her since I was basing this of of incorrect information.

Also, the address in the MLS is incorrect.

@Michael Plaks the original post here is not incorrect.  

but his answer was incorrect, and when several of us pointed that out and asked follow-up questions, he stopped replying.

Among those reasons are Zillow's and Trulia's habit of publishing incorrect information and/or old and out-dated information, as well as the "zestimates" which are often horribly wrong.