I questioned it because many companies are registered in Delaware. 

Thanks for your response @Gabriel De Almeida it is very much appreciated. 

So a de facto $793 per property for single units.

CorrectI was planning on talking to my realtor and see if the ARV  is what I think it is and talk to the seller see if he takes 120k and also talk to a bank to see if I could de a cash out.Thanks Victor , I just might do that

I flipped my first house in Delaware when i was 26.  

Hola, alguien que hable español y le gustaria juntarse para hablar sobre real estate que me deje saber, estoy en el proceso de aprendisaje pero tengo algunas ideas que son solidas y prometedoras, solo quiero aprender mas y explorar algunas otras ideas.

Turn key properties offer a definite move toward passive and are 1031 compliant.The truly passive alternatives that still comply with 1031 and offer that management free cash flow are NNN properties, Delaware Statutory Trusts, and Tenant In Common properties. 

@Bill De Jong the "kitchen and bath cabinets and countertops" was lumped into framing.

Up to you if you want to hang your hat on the de jure letter of the law or the de facto realities of the situation as it stands now.

I’m in Delaware and trying to learn more about the Philly market myself.My best advice would be to run the numbers and figure out which one gives you the best ROI and is aligned with your long term goals.