Thx.My best suggestion is to look at Airbnb comps to see if there is demand in the area your son's house is in.

Either the deed passes and your 1031 has to start at that moment, or a contract for deed is signed as he suggests and that too triggers the start of the 1031. 

@Troy Gandee thank you for your suggestion.

There's a cost converting to, and another cost converting from.I would suggest that if there's a large enough capital expense to set it up, but it doesn't quite work out the way you hoped, just keep it anyway and eat the costs.

I would suggest the following:1.

As for your saved up cash: I wouldn't put all eggs in one basket, as this article points out: https://www.biggerpockets.com/blogs/10850/76519-do...Aside from diversification, there are various potential passive investing strategies and some have already been suggested by the folks here.

As @Melvin List suggests you need to find a local broker to do the foot work for you.

I looking for my first flip deal in Baltimore and try to narrow my search to relevant zip codes where I can find a good flip deal around ARV $130K - $150K.Any suggestions which zip codes /areas pursue?  

Except couple blocks, it is a solid neighborhood, and average house runs around 100K that needs a full rehab.Pigtown, you can still find cheap houses, but I suggest you go and see it yourself. 

You will also be taxed on any salary you draw from the corporation.This sounds to me like a real cart before the horse scenario, and I strongly suggest you get your legal and tax team on board before making any additional moves.