A 3 bedroom with a garage in Aiea is a great product.  

Any type of investment real estate that you intend to fold for productive use qualifies for a 1031. 

We all know it exists, but no one knows where to look, fewer even try, and only small minority ever get that lucky.I think the "you need a mentor" propaganda is propagated online by the gurus that want to sell you access to themselves or some other product or service that lines their pockets.Bottom line: Very few people give away anything for free.

Write letter to all the tenants reminding them that grease, hygiene products, etc should not be flushed or put down the drain. 

As far as the last minute filing is concerned, I'll be late myself but IDC because my taxes have never been this low claiming only schedule E income!!!

Ask yourself if the loan for that product type is normal for market conditions.

Matthew, you could always go and find a private loan to place in second position on the property, instead of a bank loan or HELOC product. 

Read Sec 179(e). 

Could my parents deduct it on their taxes, or would it only be on my end (schedule E)?

Your rates will be a little higher, and you might need  to put up to 40% down for the purchase but if the deal works and you have enough liquidity to make the payments then you're fine.