Therefore, pad your expense numbers a bit in case it comes up.

It sounds like a great deal for the other investor though, unless your wanting to pad your RE resume without the additional risk. 

Dont go to the BIG wholesalers either, they will pad the price so much that there will be nothing left for you.Do your own research on every deal presented to you and ask for several opinions from non interested parties before commiting funds to a deal.

With a click of a mouse, your investment is sold.

I will make this leap and I will reach my goals just need a launch pad.

So I’d rather ‘self-insure’ against those things and keep my bank account a bit padded for when/if those things arise.

I don't have a ton of experience, only one live in flip, I have managed a handful of small construction projects at a previous employer, I managed the entire engineering park project at my current employer which included construction of an 11,000 sqft pad, a 3500 sqft facility with all necessary plumbing and electrical, I also personally designed an managed the installation of our custom chilled water delivery system that is required for certain tests.

Pad mapper and hot pads show live listings that can be compared to the unit you're comping.

This ended 12/31/1996 and was replaced with the 121 Exclusion (Section 121 of the Internal Revenue Code) that is effective for transactions that close 1/1/1997 or later.The 121 Exclusion is a better mouse trap because it is tax-free where the 1034 Exchange was only tax deferred.

I'd love to work closely with someone as a project manager (working for peanuts) to turn a building around for massive equity gains just to see how it is done and pad a resume.