Garbage 20$ a month- that seems cheap Closing I would imagine your going to have atleast 4 grand Be sure the rehab costs are correct by actual quotes from contractors for the scope of work involved not guessing All that being said ..This looks like a solid investment and one worth pursuing once you get your ducks in a row

It's nice meeting one on one too, but I bet the collective knowledge of several of us could save the world.....or find some deals or something.  

Ask questions, get involved and grow your Investment opportunities.

Does anyone involved in the venture have any overseas connections?

As I recall, if you took out, say $50K, then the allocation of the two properties is $220K and $80K.Now, figuring out these 1031's can get complex as most of the course I took involves doing series 1031's where you trade a property in a 1031, to another one some years later in another 1031, and so forth, and then another one, where you actually own one physical building but on your books, can be several, each with it's own depreciation schedule on it's final sale, can have two or more separate depreciation recaptures calculated.

I'm thinking about moving from the current property manager due to various issues with transfer of rent and lack of communication so this would likely involve some work in dealing with the current tenants and getting keys from the current property manager.I would very much appreciate any recommendation.

However, (a) there are IRA/401k compliance concepts that you should be aware of and (b) you should develop an efficient method for accessing IRA capital - I'll often get introduced to syndicators that find dealing with IRA/401k money to be a huge nuisance, which it does not have to be.On most syndicated deals there will be leverage involved, resulting - potentially - in taxable UDFI to IRA investors.

@Chris SvendsenAre there any attorney's involved in this deal?

You should decide to either learn the intricacies involved in this yourself and/or commit to finding the best professionals to help you with it.

In my opinion this is one area where people who want to flip seriously underestimate the amount of time and effort that's going to be involved in taking this thing from worst to first.