They are possible to convert but between the VTM and the new card reader bolted on, I'd just buy new machines. 

Then you can keep that money “tax free”.Imagine if you bought a property for $500k in cash.

From what Ii understand brokers pass deals along to past client they know can close a deal and when it hits the market its almost like a graveyard...I think for myself I'd be better off closing a deal with a mom-n-pop type owner and hopefully seller-finance an older property with some value-add to force appreciation.I appreciate your response, do you have any feedback on this?

If it’s worth more without the house I’d either sell as is to a builder or tear it down and then sell the empty lot once the ROE drops below 8-10%.

1031 is for a business or rental, hard to imagine how raw land fits...

I'd be okay taking a swing for a $30k profit if it's a good buy and hold property.

It's not as easy as you're imagining. 

I'd advise starting there. 

It was just a multi-family property that came up local that was rented, thought I'd reach out to the realtor for a rent roll and practice running the numbers on it.

I can only imagine how difficult it must be to run a successful property management company.