While I told him already I will never cut him in on a deal out of "being my brother" I think it is right that I grant him some sort of value because he would be over paying on rent by $500 by living here and I have already told him I would give him an equity split, far more than what I will actually end up giving him in the end.

I actually managed to get a quote for a conventional loan recently, just so happens that the only thing holding me back at this point was my job.

It is common that sometime floodplain maps are not always up-to-date based on current conditions, and thus you site may actually be above the floodplain elevation. 

I guess I was overdoing it, but the excitement of this last property, and being retired, well, it was something to do to fill the day...maybe once or twice a week from now on.

If so, how can I minimize the rebate I give them - if the rent is say $5000, do I say fridge is $100 and dryer is $150 so ok you can deduct say $(250) * 2weeks/1month = $125. or do I say ok send me your bill for food and laundromat and you can deduct that full amount (that will be expensive I guess).If I'm not liable how do I reply that doesn't have ramifications.

I guess maybe its time for me to learn how to use QuickBooks! 

My best guess is that we'll see 5% interest rates again in about three years, but I have no basis for this statement.

The greatest thing about the 1031 is that it allows you to actually shift from bricks and mortar to DSTS in times when you want less management head aches. 

They were paying above market rent, but now with the crazy rent increases in the Phoenix area, they're actually paying a little below market.  

The cash flow (or actually the net income before taxes) from the property (doesn't matter whether it is a single family or multi) should have a DSCR (debt-service-coverage-ratio) of at least 1.20 or more.