*One unit will be occupied by me*The current deal(s) I have negotiated -Purchase Price: $518kCredits: $7k credit for closing costs (from owner)Financing: 3.5% down ($18.1k down)orPurchase Price: $539kCredits: $7k credit for closing costs (from owner) and $21k credit to my pocket (cashiers check).Financing: 3.5% down ($18.9k down)Essentially, I get my down payment back and have no skin in the game.

If you borrow 100% of the purchase price, you have no skin in the game and it's easy to walk away.

The plan is that is the skin I put in the game and then they will pay for the renovations and then I can either sell it and make a profit or keep it and do short or long term renting.

My wife is very fair skinned.

There are many ways to skin a cat.

You can be building the same Project Design on two corners of the same intersection and have a completely different outcome for the scope and therefore the cost of the work for each site.Corner “A” may have a nice flat surface, positive soil conditions and all utilities proximate to the site with available capacity.

There're many ways to skin a cat, as they say, and it's really up to you as to which way to play.

@Ryan Williams - on the surface, this looks like it could be a good deal, however it would be nice to get more information.

Mold on every surface, mold behind every wall, mold on the insulation, every metal corner bead rusted out, window sills rotted out, framing rotted, floor joist rotted, holes in the floors, no cabinet or door attached, plumbing leaks, tub cracked, rats/cockroaches, cat pee everywhere.

Not too familiar with 1031 exchanges outside a surface level understanding.