Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

With the price point you are looking at, there are many opportunities.

The pros include lower interest rates, flexibility, and preserving cash for other opportunities.

Then you'll need to find land, acquire it, find a spec home buyer and set up meetings to design plans or buy a set online with mods.

However, the IRS may scrutinize exchanges if the holding period post-transfer is too short (typically 12-24 months recommended).If one partner wants to defer capital gains while the other prefers cash, the deferring partner could reinvest their share into a Qualified Opportunity Zone (QOZ) fund, which can defer and reduce taxable gains if held for at least 10 years.

The property can be unappealing in some way shape or form, old, derogated, who knows maybe there was a murder there several years ago and people can look up that information online?

What RECENT "buy" opportunities do you see in the overall market?

Above are just hypotheticals, but they bring to light the point, which is, evaluating opportunities requires apples to apples comparisons. 

Look for value ads and opportunities in variations of the comps

Same principles apply - being busy will create opportunity.