Lawyers are not stupid and they will try every possible avenue to go after assets held out side a LLC which is why insurance is really your only true protection.It really comes down to whether the individual, as Michael suggests, wants to wear a hard hat when they go for a walk.Still waiting for first hand examples.

Really, with this kind of money at steak, there is no excuse to DIY on this and mess it up, you need to see an attorney.There are many ways to structure such transactions, but I think I'd want the seller out of the picture wearing the hat of a lender.

My only other thought is to draw a name out of a hat or to ask them to submit a bid for the rental price.

If we put on our creativity hat and ask how can we make this deal work, my first thought is to turn this into a house-hack, living in one room and renting out the other 2 as Airbnb rentals. 

Hats off to you!

But that is where I would start.. then from there trying to find a second in this scenario is probably a waste of time and another partner same thing whats in it for them.. so either you guys all chip in with cash or you go hat in hand to senior lender and work a deal.

It seems like even the unlicensed, uninsured, and no company name etc. is pulling prices out of the hat thinking they can get it.

He has even been wearing cowboy hats at media events.

The 1031 timelines will present some challenges, so you'll need to move quickly on a large deal like this.MODERATOR HAT ON: This is not a solicitation for investments.

. $1200 total for national, state, and regional association dues.Then I will pay $200 for a one-time due to Wasatch Front Regional (MLS)The rest will vary, depending on what brokerage you hang your hat with.