My question is Cardone said something about 6 months and to read in between the line.. what was he referring to about the 1031 exchange?

If I don’t have any repairs or very few in the turnkey for several years it could easily be a wash.

You have to furnish the unit, maintain the furnishings, clean the unit, wash and replace linens, prepare, greet and serve new tenants fairly regularly, etc.

We spent an entire Saturday power washing, cleaning out the rain gutters, doing some touch up painting, swapping out plumbing fixtures, doing a little trim work, replacing light bulbs, trimming bushes, and doing general housekeeping and yard work.  

In your situation, you will need a cleaner who can wash your linens as well and that’ll be extra.

I tell clients when they want to wait until spring to sell they can expect about 5-15% more for their property, but they can also expect to spend that much more on their next property so it's a wash.

If the bricks have deteriorated or the mortar washed out, then you would be heading in the direction of rebuild/replace rather than repair.You should probably consider having a foundation specialist and/or structural engineer examine the foundation and provide you with an effort and cost estimate for repair/replacement before finalizing a purchase of the property.

If it's the former, it's a wash and doesn't make much sense.

most of the folks on this site would not recommend you pay 300k or so for less than 2k of rent.. is there a specific reason your doing this.one thing that can add up.. is make sure you negotiate the builder to put in blinds landscaping fencing and mail box if they have to be purchased along with a refer and wash dryer if applicable.. some builders call these rental packages.this way you dont have to buy all those items out of cash after you close you can finance them all in

Net result was he was sued for $2 million, and the S Corp and him was sued, and he was not personally covered.