Hey Craig, Just to keep the positive train going, this deal may not be exactly what you want for monthly cash flow, but it is definitely getting you closer to cash flowing the way you want to.

. $220,000 is definitely a lower purchase price amount and really limits you on what you can buy.

Keeping this in mind can definitely help!

@Jake Andronico definitely what I'm looking for!

I'm currently with an investment brokerage at the moment but I definitely want to end up as a investor in the end 

Investing with a partner, I would definitely look into start an LLC.

@Eric SmithGenerally, if the taxpayer sells the relinquished property to an unrelated party, the taxpayer generally cannot acquire replacement property from a related party unless:The related party is also participating in a 1031 exchange.The related party pays more in tax on the sale to the taxpayer than the taxpayer is deferring in the exchange (this scenario is rare).Let’s look who is considered a related party: Spouse, children, grandchildren, parents, and siblings.Corporations and shareholders owning more than 50%.Commonly controlled corporations.Partnerships and partners with more than 50% interest.Trustees, grantors, and trust beneficiaries.Non-Related Parties:In-laws.Aunts, uncles, nephews, nieces.Friends.Domestic partners.Entities owned 50% or less by the taxpayer or a related party.In your case, your mother-in-law, aunts, and cousins are not considered related parties to you under the definitions in Sections 267(b) and 1031(f).

When someone buys an entry level property like this, there are definitely a lot of risks involved, so sure, you and I can agree on that.

Better potential for current cashflow and you can definitely find discounts to “market top” pricing as you look South from Tampa. 

The plumber insists that this is definitely a city issue, but I’d like to hear from others who have dealt with similar situations.Would the city reimburse or help cover part of the expenses for the secondary cleanout?