@Corey HillIn our case, cutting a check for a purchase has been no longer than a traditional closing, HOWEVER from my recollection one thing have to be in place for that to happen:The entity on the purchase agreement has to be in line with your custodian's compliance standards. 

I don't want to serve her with a notice to evict due to failure to pay rent- I'm afraid she will simply cough up the money and be in compliance so I will have no grounds to evict her.

Since you'll be reasonably assured that they will close.I don't see the normal 1031 timing issues impacting you at all. 

After doing several real estate investments with my SDIRA, I would recommend you dig deeply into what is required to remain in compliance before you do it. 

I mentioned in my original post that my  fear/concern is dealing with the occupants, it's so great to hear about your success with the situation and it has given me the assurance I needed to start looking for my first Alabama foreclosure.Many thanks for your reply.

Someone who is willing and wanting to work through strategy with you and not just end of year compliance. 

He assured me that what I am planning to do is well within current city regulations and he felt that it will be some time before it is brought to vote again, which was comforting but I'm not going to bank on that.

@Ken LeibundguthYou cannot originate a FHA loan and be a realtor on the same transaction.Technically, that is the only legal restriction.However, many employers, both lenders and real estate companies, do not allow dual employment.There is huge liability and exposure for steering, conflict, among other potential legal, RESPA, and compliance risks.These are 2 industries with HEAVY regulation, so many employers do not want any part of it. 

It’s a fraternity.That said, besides the obvious that the house will take some serious abuse, new chapters often fail or run into compliance issues.

I would seek legal advice concerning your compliance with this law before taking action against the seller.