You could hold the property but could only take up to 75% LTV from lenders versus 1031 you can take all equity to buy something else.I won't sugar coat it 1031's are hard to do.

I’m not going to sugar-coat this.

Prep is key - you must use primer and sand between coats and all the other stuff you want to skip or it will peel and look awful.

You need to either turn that option off or find a way to mitigate the risk of them turning it into the Animal House.

Hey Account Closed I have never heard of such an animal.

v=udaxcLVfZtMThe 1031 Exchange is a completely different animal that as nothing to do with Land Trust.https://www.youtube.com/results?

NYC tends to be a whole different animal then...well...anywhere else including the rest of NY State. 

Depending on what your goal is,  and what group you're planning to rent it to.. personally,  I would fix the doors and make them function, put a nice, new coat of paint on them and replace the knobs and any hardware.  

We skim coated the basement walls because they were textured.

And could be a reason to sell.The other thing to think about (speaking from experience) is that 1 bedroom/1 bath places are a little bit of a unique animal.