However don't think they just "happen" and are reported like your primary residence exclusion.  1031 exchanges must be performed for you by a qualified intermediary and put in place prior to the sale of your old property.  

When you sell the home, most buyers perform inspections and so work has to be done right.

Definitely get the owner to get the permits if you can, otherwise contact the inspector and ask for an extension on the permit or a review of the last submittal. 

Need some help analyzing.Property Valuation = 66kNote's Unpaid Balance = 25.2kNote Sellers price = 21.6k (standard 85% of UPB)Sellers claims note "performing", but has unpaid taxes of 8.5kLoan maturity in 5 months with balloon of 25.2k paymentChances are this will foreclose!

Does their property manager embezzle from them or just otherwise not perform.  

This individual helps hold me accountable to the action items I've listed to perform the goals I've outlined for myself (I work quickly and take massive action, so I've outlined goals taking me only into the end of the first quarter of this year).I'm constantly on YouTube looking at different videos on a myriad of topics concerning flipping, financing and real estate in general (usually this is a last resort /exhaustion type of thing. 

Unfortunately that isn't alwaysthe case but here are a few of my past sellers that can vouch for how I do business and that I will perform as we have agreed if you decide to move forward with me."  

On a two story house this means junction boxes in random spots on wall or more extensive sheet rock work.

Everywhere else is just an extension of it.....IMO of course. 

If you could perform the BRRR strategy, factoring in ALL EXPENSES.