I have hard cash to contribute to a partnership and I am a highly skilled union painter/taper so I can contribute those skills to the rehab team. 

If you work at least 750 hours in an active investing role, and you don't work more hours in any other business/job, you may qualify as a real estate professional. 

Entire gain is qualified for the capital gain exclusion.

Or if there is no room for a spread : take the house subject-to and sell the contract to someone who wants to acquire a home, can afford the home but cannot qualify for a mortgage.

Property you bought primarily for resale (fix n flip) does not qualify. 

Naina,If I understand this correctly you qualify for a 1.5 mil loan, and have 750K for a down payment for a total purchase price of 2.25 million dollar property.

She follows up, she has fantastic communication skills (always available), she has a thorough knowledge of the local market, she has a great team in place to help her, and it's obvious she has a passion for what she does.  

Do I qualify for a 1031 exchange?

-Jacob Not a big deal, but what comes up is that typically you cannot use rent derived from your departing primary residence to qualify.

I think finding a partner to do some role plays using his principals would be a good idea to get my negotiating skills to the next level.