Alternatively, they may create internal systems using office staff, a researcher at the recorder and a data vendor such as Title Point (at a cost of perhaps several thousand dollars per month).

@John LupoAs I've discovered recently (cause I'm a newb) - believe it or not, there are alternatives to bank financing and simple private money loans.

@Hattie Dizmond  9% for what is probably an A class is a pretty nice return from my point of view.her alternatives could be to simply lend money with a quality local HML and make 10 to 12% per annum

Holding a property for longer than a year doesn't necessarily qualify it for capital gains treatment.  

By simply doing this the owner is saying that the properties owned in his buy and hold entity have been purchased with that intent and qualify for 1031 treatment. 

Moreover, you should factor your ability to maximize return...weigh this: If you buy a property with basement issues/needed repairs, you will dedicate time and capital to get it market ready and have capex and maintenance costs during the investment period...alternatively, you purchase a property on a slab that may not be the market norm, may take longer to rent, and may bring a significantly lower rent.

Would contacting the attorney or executor of the will be the only other alternative?

I think its one of those under the radar satellite cities that offers a very good alternative to buy and hold investors who don't want to risk the tenant base and issues of buying in the bigger cities at the same price points.you can acutally buy a 40k home in Kokomo that will be nice.. decent tenants no thefts etc. as opposed to buying in one of the big cities that puts you in High touch risker areas.I made an offer on an apartment there last year it was I think about 60 units.. we did not get it..

Currently about the only debt they have to their name is about $3700 still owed on his vehicle.The good news is that he does have an alternative skill set that he can fall back on as he has been doing for the past several months.  

More meaningfully, it is a measure of how much better a project is than the alternatives.