Cast iron waste lines become so tuberculated that waste can't pass through, or the joints fail and allow heavy root or soil intrusion.

They can ask you to serve notice so one unit (or both) are vacant at the time of possession, but if you agree to that make sure you have a large deposit and some of that is not refundable if the buyer backs out as you will need it to cover the lost rent.

So true....good advice!

My current coverage is with State farm ,so I know for sure.  

Your seller will be doing the 1031 exchange so it doesn't matter who they sell to.  

So, after closing costs I would need roughly 55k cash to bring to the table. 

Also, be sure to clearly outline the agreement you have with your investor in a signed document so that there is no confusion on the back end.

There is a product called “transactional funding” for this purpose.

Land loans are the riskiest type of loan for a lender to give, so they are rare to find. 

I've been approached by a couple of sober living facilities and would perhaps prefer an independent living provider if possible (with 4 units in Cape Coral it's categorized as commercial so all ADA requirements, fire safety, etc. have been provided).