I have 15 pieces, totalling about 2 acres , so, I think it's worth it and fun to go over everything and see what I'll find (beyond all of those damn nails and screws from renovations - lol  )

TOTAL GAME CHANGER. 

Do not rely on it for legal advice.

Total Profit if Sold: I just can't seem to get the numbers right!

Then talk to those people directly or to their competitors.An infill residential lot in a resurging neighborhood is a totally different animal then a commercial A lot downtown. 

They also take time to learn the area in more than just a superficial manner.No doubt that there are "better" opportunities in areas where the numbers make more sense, but a weekend Wells Fargo "Investor Seminar" held in the Bay Area doesn't give you all the tools you need to successfully operate in a place with which you are totally unfamiliar (personal anecdote).

You would be totally liable for your friend's actions or liabilities (if your friend gets sued and the other party can tie in the investment at all, you could be sued even though you had nothing to do with it).An LLC is probably the best best for what you are looking to do. 

Here is my planuse remaining 1031 exch money for unit #1 ( need full price to satisfy the total 1031 exch minimum)Get a 30% price cut on the other 2 unitsGet hard money loan 18mo for 100% purchase of the 2 units. 

I understand that I have to identify one or more properties to swap with a total value of the sale of my property: are we talking about the gross yield  (600K) or the net yield (570 after after the real estate fee)?

This is probably my major complaint as this is totally controllable.