@Jay Morgan For example, if relative gave me a $100k for fix and flip and we made $20k profit on the deal would you pay them 10% out of the $20k and the subsequent deals/ profits?

If no response we can exercise the 30day notice option.In fact my daughter just raised one $60/month, with a subsequent increase in the Security Deposit & the tenant decided to stay???

Apply that % to your purchase price and that (or the tax improved number if larger) is your initial first year and subsequent base depreciation when divided by 27.5 years.  

If they are delinquent in subsequent tax years, that can be rolled into the original note.  

Most recently I opened an account with Intuit who has subsequently opened a "review" to see if they and their "partner banks" allow rental businesses to receive ACH payments for rents/deposits.

@Peter Davis, The requirements to defer all tax in a 1031 are to purchase at least as much as you sell (100k minus closing costs) and use all of the proceeds from the sale in your subsequent purchase ($20K ish).So if you did a 1031 and purchased at least $100K in real estate using all $20 K in cash you would defer all tax,That is the beautiful thing about a refi and 1031 working together. 

Now, if you used to live there and then rented it out in subsequent years, it's a mixed-use property, which means there's some math involved with how much gain you can shelter, so you'd need to speak to a reliable CPA about specifics.

It turns out that she had bought the house from another investor years ago who had subsequently sold the note to a person who buys notes with all of his retirement portfolio.

This isn't on BP, but in this case http://caselaw.findlaw.com/oh-board-of-commissioners/1064123.html there was a suit (and subsequent disciplinary proceedings) based on a website/blog suggesting legal advice.

But here's the kicker, after our first offer and subsequent inspection, we are going to have to do something with the well which will potentially end up taking a big bite.