Negotiation tip #47, make it as simple as possible for the other party to accept your terms.

We have a third-party property manager that co-hosts. 

I have never seen any financial statements or documents or 3rd party audits etc.  

@Eric Helena, There is no statutory prohibition against purchasing from a related party to complete a 1031 exchange. 

Work with your commercial lender/insurer/lawyer/personal banker and see if they know of any interested parties.4. 

Make sure both parties fully understand and agree on:How profits/losses will be split Who is responsible for what (e.g., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

I would imagine getting the cash out is about the easiest part, having the check in hand is the exciting part, and buying a house is the nerve-wracking part. i watch videos at work and talk to my clients all the time about real estate.

I don't think you are going to be able to get insurance for two separate living units in a single-family when they are both illegal and likely do not have the correct egress windows (basement) for fire safety which could subject you to huge liability if something happens to either party.

I only see 5 beds and 4 baths in the listing and do not see that third efficiency unit in the listing pictures. 

Hello all,We have a prospective family friend that would like to do a sale private party.