.,  Based on your 1-year goal, develop objectives that are measurable and have deadlines. 

I am also going to be a little tight on cash because of the down payment and fix up costs.

@Dave Godfrey Lots of moving parts on this deal...Friend has income to pay rent/buy, but has not claimed enough to qualify for loan, will have to partner up with someone.Worth 200k and willing to loan up to 50k, means may be willing to take around 150k now.Tenant has helped owner get to this level by renting for last 8 years...use as leverage in negotiating.Variance in market value, focus on comps to justify lower price.To 1031, owner has a tight timeline, make sure of flexibility on both sides...It will be all about negotiating an acceptable deal and lining up a partner on loan, in my opinion.

Also, on the hudhomestore website I noticed it said Period Deadline: November 6th.

You'll probably need to serve a notice to the tenant right away notifying them of the 8/18 deadline.

However, now that inventory is tight I might consider it going forward.

If it comes down to it, to get him to agree to move forward and if your finances are tight, secure him with a second lien with a specific subordination clause to the senior mortgagee.  

I'm glad to know that banks will usually allow a second round of offers after the initial deadline.  

So the numbers work, but they're a bit tight.  

I don't see this person upending their life to make you happy upon returning and getting a short notice to move.What experienced investors are saying that have years, decades of experience dealing with tenants is that if he moves by your September 8th deadline it is an extreme longshot.