I agree with Jaysen above that there isn't much of a deal here, some of your assumptions are a bit low for my liking.

@Russ TrimboliYour assumption that it will be easier to convert to Roth status first is correct. 

You raise very valid points with about the implicit assumptions of the IRR calculation that I don't think get enough attention.

The point is NOT to find a deal, but to confirm your assumptions that lead to that list of 1,000.Guess what, they're going to be so much more willing to talk to you and answer/confirm assumptions than they are going to be to hear a pitch.

There are some competitive 1031 compliant products that won't require debt assumption and have decent returns.5.

The assumption among many investors is that NNN is a no brained investment...but it’s not!  

Re: not paying taxes up front - I could be very wrong, but I was under the assumption that (at least here in Michigan) - property can be transferred from one owner to the next (family or not) even though there may be taxes owner (or any other liens) on the property using a quitclaim. 

I tried an assumption approach with one property only to have the agent torpedo the deal bc he was worried about his commission.

Are they going to place a proper border down so the water doesn't hit and damage the block walls (assumption)?

you would have to do a formal assumption.. and if you have to do that why buy something with little to no equity.just becasue you can get motivated seller to sell .. if there is no real equity or apprecition why buy it. big risk and waste of your time and energy.