You know the build process and your plans so well that you can explain the plans over the phone without visuals to subs who need guidance from the field.

During this period the tenant handles all property management.right agreed.. but that does not give the person that posted this the ability to buy with no money ... this guy already owned it. its just tax treatment.  

Even if this is the correct treatment, it might be good time to sell some of your property so that all the capital gain is offseted by the entire loss.

Everything looks good online or on paper so you need to visually see where your parking your money imho

This of course depends on whether or not the fire escape needs to be covered and whether the visual impact of the fire escape on the side of the building needs to be considered.

Reason I ask is typically you can't get LLC treatment if a property is financed.

That is fine if you are flipping because that is the proper treatment there, but it is a major problem is you eventually also have rentals that you occasionally sell (you also cannot 1031 inventory, so dealer status is also problematic there). 

@Henry Lazerow has pulled some visually accurate comps with similar rent rolls.Figure out how to pull out the most amount of cash to throw into the next deal.HELOC: My lender has a 95% LTV HELOC at prime +1 with a 5 year draw period and 10 year repayment period.Cash out refiOnce the appraisal comes back and hopefully with more research I can figure out the most optimal next steps.

If you know what you need done, prepare the SOW yourself, invite them for a visual walk-through, then have each GC bid based on that.

The key that qualifies property for 1031 treatment is the actual sale of real estate and purchase of actual real estate.This is where the fund will not be available because you are probably not purchasing a tenant in common interest in the real estate itself.