I am writing to explore rental opportunities for a recently renovated property that has been 90% restored following fire damage.

I wasn’t writing anything towards you or your post at all.

Selling a primary residence and then buying it back as part of a 1031 exchange could raise red flags with the IRS.Your parents have a valuable opportunity to defer a significant amount of taxes by utilizing the $500,000 exclusion on their primary residence.

If I protect my numbers, interest rates would have to be 3.5% or so in order for a 1% house to work (assuming 20% down), which means for $3000 rental revenue to work, the debt load would have to be about $235K at that interest rate (give or take with variable taxes and insurance numbers). 

Had to negotiate to 999,000 only to stay under the NYC luxury tax.

.- China is issuing record debt to stave off recession, while the US bull market continues (Wallerstein).- Texas vs California Home Construction.

Does anyone have a document that breaks down a deal from start to finish, including potential tax incentives?  

You want to be careful not to bite off too much on a first purchase so maybe if more four units or less or available that could be a better starting point with less risk and more ability to learn without potential loss.

Are you quoting net cash flow - after taxes, insurance, maintenance/repairs, property management if needed? 

However, these programs typically qualifies borrowers based on their income, such as tax returns.The DSCR would be a good option considering you and your husband are entrepreneurs and the tax returns don't look good on paper.