I know 1031 exchanges must be same taxpayer to same taxpayer, and it seems like so far the only viable option I have found is via a Tenant in Common structure.  

No but this does make sense. 

I'd stick with what you have if the numbers make sense.

I would assume that with an increase in renter occupied units in an area, the competition would be higher and therefore it would make sense to go outside of the area of competition (given other demographic information indicates the area is still appropriate for a buy and hold strategy).

So now I'm trying to cut back on some parts of the rehab to see if the deal still can make sense.

Hi @Vishal Patel, since I just started to learn about real estate I too felt weird at first of the "subject to" but after reading up on it, it could make perfect sense for the seller in a tough position as most seller are not trying to ruing their credit. 

I've never rented a house, only apartments before I bought my first and only house.Is it so commonly known who pays which utilities that landlords don't bother listing that detail?

My question is, does it make sense to buy an "already" rehabbed property or just rehab a distressed property with an after rehab value equal to the "already" rehabbed home?

Thx again in advance.Expenses Annual Figures R/E Taxes $9,756 Insurance Premium $3,000 Maintenance $4,000 Water & Sewer $3,000 Common Electric $700 Gas Heat/hot water $0 Tenant Paid Management (5%) $3,937 Garbage $0 Ind.

Hi there -- I'm very new to RE and BP, so apologies if common economic logic already answers this question.I live in Chicago along the Blue line in Logan Square, which is a "hot" neighborhood.