Just proceed with caution and be objective. 36% seems like a red flag (salesman trying to sell you an inferior product - too good to be true).

@Sean Gribbons we completed a condo conversion and you are correct, the unit sales could not be traditionally financed until the very end of our project.

@Ayyoub Reza in Michigan, if a lease is at least 12 months in length, you can charge tenants for maintenance and if not a health & safety issue, require them to fix it.Why would you have a lease end during the Oct-Feb timeframe, when it's the slowest time of the year for real estate sales & rentals?

The general interpretation of simultaneous for purposes of the 1031 is that both sale and purchase are under contract and close within a day or two of each other with the funds being sent directly from the sale to the purchase escrow. 

In such cases, you would lose your tax exemption.To avoid risks, we coordinate the purchase of the replacement property with the sale of the relinquished property.

If it were me, I'd tell my brother than I get my downpayment back first, then we split and additional profit at sale 50/50 (presuming he matches your other expenses).

The flow of a property and what sales right now.thanks Dave

i am looking into going into a trustee sale on deed of trust for $300,000 by evergreen "second lien holder" but after getting a title report i see there are a Subordination agreement between CTBC "first lien holder" and evergreen.

Sale price: $200,000 Single-family home for wholesale

But a buyer could put down a lis pendens and mess up the sale.