@Peter T. In

See podcast here where he goes over exactly that: https://anchor.fm/sean-pan/episodes/33---Why-Investing-in-Your-Backyard-is-the-Best-Strategy-with-Saj-Shah-e3d249?

@Bill Exeter and @Dave Foster Yes, the DST is a great fallback in case none of the properties you identify during the 1031 pan out.  

I am confused as to how this deal would pan out?

I have a lot of Real estate experience and flip homes and am a  Broker for a living...We were actually going to move to Jupiter(from Vegas) in 2010 but that didn't pan out.

@Pan Forysythe - When you are buying properties at retail, it's common for the closing costs to push the total costs above the ARV

If thinks don't pan out well then you can cancel the lease down the road.

I'll reach out if this pans out. 

(again not really relying on this either because it has not happened yet but they are in talks).There are a few new hotel projects planned on the strip and if those pan out successfully I can see a lot more development in the future. (10 years from now).WYNN announced it will build a man made lake and a new tower.

We vacuum the back of the refrigerator coils and clean the evaporation pan.