I know living underneath can cause certain cancer...but how close is too close?

Hi Adam,You are correct in that the 1031 Exchange would not apply here since you are dealing with securities, which are specifically excluded from 1031 Exchange treatment. 

She would then lease them back to the builder, and once they were completed, she would realize a great profit, because her properties were the model homes and people loved them since they were already upgraded (window treatments, wall paper, upgraded flooring and counters), so they always sold within a day or two of being listed.In one development she bought three condos and when she purchased each of them they were about 90-100k a piece and the builder leased them back for almost double what her mortgage payments were, and once she sold them, she made at least 10-20k off of each of them in just the time for them to be completed as they appreciated pretty well and fast.So, in respect to what you are saying, if it's in a relatively desireable neighborhood, you are correct in that lot of people love new builds.

They are working on the DPOA with the attorney on staff at her treatment facility.

That would be WAYYY too much of a liability for the government to be responsible for their treatment of the property.

He said common water treatments would cause the plastic to become brittle and cause problems. 

I'm curious as to costs for this treatment and down time for the house.

Building more than two units per lot requires extra storm water treatment and adds more design, review, and construction costs  From what I can tell, other builders/developers in the area have built two and three unit town-homes that do not have HOA's.

These investment vehicles have gotten less attractive for investors when the tax treatment changed a few years ago.

BUT you might be able to apply for historic tax credits, get favorable property tax treatment, etc.