could it service the debt on $1m?

Mgt, Landscape/Snow, tax, insurance, utility then debt service. 

If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value. 

I've filled out those little "Enter to Win" cards at the mall for a new car and had timeshare folks blow my phone up for the next 3 months.

Two views of ownership; owning the equity,  owning the debt. 

The math behind Real Estate is not that complicated, Revenue - expenses and debt service = cash flow. 

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

We are only selling completed homes with our own in house financing currently at 3.75%, a huge discount from most bank rates.We are a long time property provider for some of the bigger podcasters: Real Estate Guys Radio, Marco Santorelli (Norada), Kathy Fetke (RWN) Jason Hartman ( Empowerd Investor) GRE (Keith Weinhold), Whitecoat Investor Group and more We also work with American Homes for Rent, Invitation Homes, Crescent, Haven Realty (JP Morgan) to name a few on the institutional side We are partially owned as of 2022 by Sumitomom Forestry, which means we have no bank debt and self fund all our building projects.

Don’t forget heloc, DSCR, 2nd on primary, borrow from retirement accounts, credit card cash advance, property reserves, home improvement store credit, etc etc.

Eliminate debt, establish a budget, and save.