@Keith Schulz @Andy Crooks I hear you both suggesting to exercise caution about doing a big build out in MH, so maybe I should focus on something a little more straight forward right now.

It was actually just exercising an option to buy from last year. 

Ask the local fire department if they want to use it in fire exercises.

Selling requires you exercise your option to buy and then turn around and sell.Try for a note first.

Since they are looking for 45k, we were thinking the interest due to the private investor for the 80k down payment would be their back-end non-refundable cost of the option (9.6k). 20-25% of the remaining amount (45k - 9.6k) would come out of the loan proceeds, while the remaining 75-80% would become an unsecured loan between us and Party A payable after closing if they exercise their option to purchase.If they don't exercise their option to purchase, the remaining amount due to them would become payable upon our sale of the home (whether or not we rehab it or sell it as-is at the later time).The tenant is currently paying 1800/mo rent - we would increase this to 1900 and would actually be cash flow negative roughly 250/month for the 18 months).If we ran our numbers properly (and you're still reading this --thanks, btw!)

This is an interesting exercise.  

There are a variety of ways to search for and then tie up suitable replacement property, including making an offer to acquire the replacement property with a contingency that you must sell your relinquished property, placing a lease/option on the replacement property so that you have it under your control and can choose when to exercise the option and then close on the purchase, or structuring a Reverse 1031 Exchange transaction.Regular Forward 1031 Exchange transactions should only cost between $700 and $1200 total if there is one sale and one purchase involved.

This little exercise will also give you your market nightly price.

If for whatever reason, you do not exercise your purchase option by the exercise date, they get back the improved property and if there was some positive cash flow, you keep that.Unless you have done this before, get a good lawyer to prepare the paperwork.Oren

I eat healthy and exercise fanatically every day.2.