I know (or maybe I have no idea) a 4-unit building will be a challenge but at this point it seems like a solid move.

The definition I am told by 1031 exchange companies is that the IRS views anything less than a year as holding for resale purposes and not for investment purposes.So the 1031 companies recommend at least a year unless you want a lengthy fight with the IRS based on cases they have seen come up challenging the 1031.This is why I didn't know if the time had to be continuos or not.I am going to call some 1031 exchange companies today to get another set of eyes on it.Thanks for all the help.

I thought the challenge would be to predict the resale value, but it seems that repair costs are the biggest question mark for me.Would any of you seasoned pros be wiilling give me some average PPSF numbers for rehab projects.

It sounds like your local market is not good so managing or buying in another area can present challenges and complexities as well.

For rear-facing windows, we don't generally do anything at all.To me, windows are a way to control what the buyer sees outside the house.

They may not be happy that they spent some cash and are mentally prepared to close and, because of the lower appraisal, they can't.Have you tried challenging the appraisal?

At the moment I'm a newbie, and with some other circumstances standing in my way for the next few months, before I'm comfortable with starting an LLC, what type of taxes would I faces for doing assignments of contracts under my name alone?

I think that is every investors challenge.

The challenge is, if you buy via REOs the listing agent is going to do their BPOs based on other comps in the association.

As a landlord I look to learn more about flipping and the challenges of finding and keeping good contractors, what makes a good wholesaler, etc.It probably would be a good idea to prepare a list of you feel you might need some help with.