Without dragging the post out too much, it was essentially a gut remodel (saved cabinets with paint), new bathrooms, new hvac, new windows, new flooring, new paint interior/exterior.

Hello All, So if I am understanding you guys right @Mark Creason & @Dave Foster what you are saying is that if someone sells a 300K property that they have 150K of 'adjusted basis' in, and they want to take out 150K of 'boot', there is essentially no point in doing a 1031? 

Dave is an amazing person, with the added benefit that he is also a real estate investor.

I totally agree everything you said plays into the whole package of the buyer and it's essentially the job of the sellers agent to give the best advice they can based on the information at hand.

Cost benefit analysis. 203k is FHA so you have MI addl cost but also you only need about 5% roughly to buy it.

Since the entire property can be separated into 5, 15, and 27.5 year depreciation lives, it may make sense to look into getting an analysis of your entire property. usually any property purchased for over $500,000 can have benefits well worth having a cost segregation study done.

Offer them something and see what they would benefit from, in exchange for their time and avice. 

I'm essentially just repeating what I heard in the BP podcast in this regard, and have no first hand experiences.

She makes $1000 at her job and over $2000/month as "survivor benefits" (I assume due to her military husband passing away).  

@Ann Binstock Check out an article I wrote on BiggerPockets to evaluate a multifamily or apartment: https://www.biggerpockets.com/blogs/8814/73755-18-essential-metrics-to-a-complete-real-estate-investment-analysisThere are software that can calculate IRR and NPV.