Those exchanges are called Swap and Drop/Drop and Swap.

The current owners do not have a mortgage, and would sell it to me direct.Since the don't need the cash, I'm going to offer $50k down at a 3% interest at a 30yr rate, but buy them out and remortgage it with the bank at year 5.No money needs to go into it, i have a $100/mon HOA, ~$800/mon escrow.

Just go to the Vegas auctions you will see it every day.. there is always some investor that will pay more than you will .. most of those folks are just looking for rentals.. some are not clued into values as you suspect but many just have other criteria that is not your criteria.. and forgeta bout it when someone wants to live in the house no one will beat them ..

I am losing trust with uDirectIRA at this point because after I made multiple calls, no one there was able to explain to me how this works end to end.

I know of no attonrey that owns property in their own name.

no more than 10k ever

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

For the moment I would recommend doing your homework, calling people up, make some connections, hire a RE lawyer and start looking at prices for STRs WHEN the lockdown is over, which is impossible to know as of today. 

I wish I would've thought about househacking back then so its cool to see someone taking advantage of the strategy.As you mentioned, Long Island is super expensive and competitive.

I went on Angie's list and got bombarded with tons of calls so I will do more research and find the companies with the better warranties.