He sent me a pro forma for an already sold duplex: 820 N Oakland AveIndianapolis, INPrice: 60,000Rent: 1,200/mo (600 from each side)Seems like a pretty great return even factoring in the potential for high maintenance and vacancies.I'm actually in Indy right now and staying not too far away (for meetings with other turnkey providers).

I was uncomfortable but I thought that maybe this was the way commercial deals worked.The GP predicted selling the property for $3.1 and then signed a deal in January for 2.78, which seemed low given the hot nature of the market and the improvements done to the property but I didn't really have any recourse.

It took longer that anticipated, but on the positive side I was able to cash flow the repairs and build up my reserves.

I just checked, its there. should be a link on the side of it to expand it.

Are there any solutions I am missing here, or is this just a side effect of the 1031?  

Good contractors can be hard to find.Here is my advice.I have had great luck finding them at our local real estate investor meet up group.I agree building supply centres can also be a good source.In my experience it is easier to find people to do a big job, rather than small ones.What I have done is formed relationships, where I give them a good big contract and in return they do the small stuff for me.I also have a couple of handyman type people on my team.They are usually doing repairs on the side, often for cash under the table.I only trust the small guys with minor stuff, maybe laying a floor, or replacing a toilet.The key is to build a solid team, do not nickel and dime them, pay them as soon as the work is done.Build a win win situation.

Good luck getting started with real estate investing and let me know if I can answer any questions for you on the financing side of things.

The first flips were during a super hot market, so 1 was an easy rehab and the other I purchased at a discount for cash simply resold 45 days later for profit.

If you buy a duplex with 3 bedrooms each side, it's most likely a family will rent and so the school district is important. 

The only caution I would say is not on the insurance side but on the sales side, if I walked up to a property and saw a bunch of patches on a roof it would be a red flag to me.