@Benjamin Bungartz - Top questions to ask- 1) What is your commission- (Many will  tell you 6 or 7 but push that...Ask for a discount if they are a transnational agent vesus a listing broker or if they know you need to 1031 out of this enticing them with a lesser commission on one with the hope of potentially helping you as the buyer broker through the 1031 is enticing.2) What will you do to actively market my asset?

But I wouldn’t discount that there is/will be additional competition for LTRs made up of formerly Airbnb-type properties.

Let's recap: You make an initial investment of $100K ($25K down for 4 separate houses), earn $1000/mo in cash flow ($250/mo x 4 houses), and each house appreciates 3% per year.You'll need to determine:How much you will have earned in 5 years (assuming you sell the property then)What annualized return that total future earnings amount would representYou also need to declare/establish:An amortization period for your 4 mortgages: Let's say 30 years.A mortgage rate: Let's say 4% annualized.A discount rate - the interest rate which you could earn on the cash flow you collect each month: Let's set it at 5% annualized.OK, let's do this!

Yours has baggage and isn't a 12% discount to FMV.  

That being said, you would want to find out if the 1st lender would be willing to sell the loan (hopefully at a discount), in  order to build in enough emergency runway, aka equity, for a crash landing).

Many of them are locked in at 2% and even lower 30 yr. mortgages and are sitting on a lot of equity  so they aren’t that motivated to offload these properties at a steep discount after just a few weeks on market.

Based on my experience, there won't be that big of a difference in rates unless your broker has access to lenders' new programs that may offer discounted rates for specific borrower backgrounds.

Then if you do purchase the property get an extermination company to get rid of the pests.You want to buy properties that have problems these are the ones you get at a discount and then you fix the issues.Anything that takes some work, many people will walk away from.

She wouldn't tell us exactly why but she was willing to sell the house to us at a discount if we could buy it in 4 days.

Then have it discounted from rent but they need to keep the receipts.