Make every effort to realize his intent to provide low income housing for this community ... but almost certainly not the way he would.  

It really depends on what your intentions are, such as whether you intend to invest for the purpose of rental income, or whether you intend on turning around and flipping the property for a gain.

Hello,I'm currently in the process of obtaining my real estate course to get licensed here in Vancouver, WA with the intention of getting into real estate investment properties.

@JP KruegerOne thing you'll need to consider and be careful with in a potential 1031 situation is establishing your intent.  

The key is your intent to hold for rental or investment purposes.

Usually they go in with no intention or ability to actually close on the deal themselves.I get offered these regularly. 

My original intent was to be all in at no more than $20,000 to make this a good deal. 

My intention for the property is to live in it for about a year then move on the the next while keeping the property for long term buy and hold .What are some options people have used (when using private lenders) for financing and also pulling the initial down payment and rehab cost out to pay the lender back.

The reality is the owner is still on the hook for a sub 2, that doesn't mean you do anything to intentionally hurt them financially however.

I think we may be the smaller half of the BP crowd, but I do work full-time and have no intention of leaving my job.