Now we are selling this property and buying new one under 1031.

You can use personal accounts for both rent and deposits, as long as they are kept separate from your parents' other finances.

At this point I still have not received any additional quarterly payments and have no idea what is going on with any of the loans aside from a very infrequent and vague response form Scott like “one loan has made a few payments and we are working with legal to cancel the contracts on the rest.”

I think splitting the profits is fine as long as your partner has worked out how much the labor will cost.

Since currently we are saving money by living with my parents, I would be hoping to use my first purchase as a place we could also live in.

We are quite advanced in the process but would appreciate feedback on the LTC targets for similar builds and whether any of our numbers might be overstated or overlooked.Thank you!  

One bed+bath upstairs, two beds + one bath in a finished basement.Fast forward 5 years (after the long term tenant of 4 years left) and I get a report that the basement has been ruined from water intrusion, requiring the entire basement to be gutted and re-finished.

The guest responded that because she was so busy during her week long stay she didn’t have time to report these and, “… would be greatly inconvenienced with potential solutions while we were there.”They then told us that they usually gives 5-stars on reviews (based on their 3 reviews) and that she would be giving us 1-star and requesting a refund of $1,000.My wife and I decided it was best to stick to our original response that we would have addressed their concerns during their stay.

My intent is to convert my primary into a long term rental.

The issue with waiting for a low cycle is that you will be waiting a very long time.