The IRS presumes that all of the basis from the relinquished property is traded into the replacement property.You cannot take any money directly, it must go through a QI or escrow.

I presume that this is in areas with higher demand, but it still makes me wonder how much I should be charging.

And presumably why would you unless you knew something was to be found?

With the first deal you will presumably have far more equity in it when you're done but it doesn't come without costs (4pts origination, $6-8k in closing costs.)

If you are going slow and steady and live well below your means, there are scenarios where it could make sense to buy a property that breaks even or is slightly negative because in a few years presumably you have a good cash flowing property.

Also, if it’s under contract, presumably you would work to agree to terms to put it under contract as soon as you agree to an LOI.

I'm presuming it works the same for unsecured as well as secured.

You did not provide enough information for me to offer an opinion on the presumed opportunity.Personally, I do not like the few numbers you provided, especially the unemployment numbers and the population.Developing can be very rewarding ...Or it can be an overwhelming nightmare with costs, delays, government approvals, nutty government employees ... the list is extremely long.

This presumes that the septic is in good working condition.What are the numbers? 

She explained to the officer who she was and the officer told her the husband has been arrested for abuse, presumably to the wife.