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.

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

More work, more time but you can take advantage of a nice cost segregation / bonus depreciationThis is the truth! 

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

Hi @Nancy Cho happy to connect and talk business.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

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.

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

Does a cost seg or bonus depreciation actually help you in any way? 

When I have some free time, I'll research other options that won't cost a fortune for the small guy.