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I would greatly appreciate any guidance or advice starting off with this business model.

We did get much lower costs when we changed to minisplits but the initial cost is high.

The founder appears to have been involved in businesses outside of real estate: ‘My dream is a locally made grooming products business’ | People | nashvillepost.comSo it does not appear there is a lot of track record there, but those are questions I would ask.

My wife and I are a team in our business too.

I see why they say, never go into business with family.

And maybe diversify a little, invest half in a low cost S&P500 fund like VOO and the split the rest across 2 or 3 syndications.

The side moral to this story - be in the plumbing business.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

If you paid $950k and only get $1M after selling costs, don’t bother with the 1031.