I felt good enough about the deal and the PM I found to move forward but I am aware it could be a challenge if things don’t work out with him!

Step 3 - make a decision to sell or rent based on the information you received from the above trusted professionals1031's can be a bit more challenging in a hot seller's market because you have a very short limited time to identify your replacement property (properties) and if those don't work out, then you probably can't do a 1031. 

We've plugged this into our spreadsheet but want to see what more experienced investors think:Our Goal: Some cash flow (ideally at least $100/mo. after expenses), good resell value if renting does not work out (ROI per year average*470.06%, Annual “cash on cash” Return on Investment 32.65% - this is without a property manager which we are planning to avoid)MD, PG County area, outside of DC: 4 bedroom, 3 bath, single family.

The owner has been difficult to deal with as her situation keeps changing and its been hard to work out the terms of the purchase.

I believe he is right, that if I do rentals the way HE did it, it may not work out, but I am searching for someone who can help guide me to treat rentals as an investment.

If you haven't signed anything, you can just say, it won't work out.

She is  unwilling to provide any financial documentation and refuses to work out a financial plan with me while she goes on vacations.

You and your partner have different goals and will need to work out the mortgage on the front end.

The first one didn't work out because "he misunderstood the scope."

I am going to be talking a few different options and offers with the seller soon, maybe find a way we can work out financing.