On 1031's all the exchange companies I talk to say that 1 year is generally held by the IRS to be viable according to case law and rulings for holding for investment purposes.Anything under a year and the IRS is aggressive to challenge the 1031.

That said, it looks like the operating expenses you're assuming aren't too far off.The one big item I'd add into the "expense" category (though technically not an expense in accounting terms) is capital costs -- these are the long-term costs you'll face to keep the property well maintained.

One of the decisions that I had to face was my reason for owning this building.

Since I am totally green to this, I would love to hear about how you got started, and some of the obstacles you faced when going through your first deal.

It's such a slim chance that anyone in the area even has any idea they could challenge it that it's probably non existent.

Also, keep in mind that if you'll pull permits (which you likely will), you'll face repairing anything that the inspector points out is not up to code.

I really hope to bring a kind of old school approach of sitting down face to face with owners, with no intermediaries or buffers.

These are just some of many risks or challenges when investing in tax liens and deeds.

Although I have been asked many times by people who observe our crews and their work, to do projects for them, its been a challenging process putting them together and I need them to crank as many projects out for us as posdible.

Finding anything for sale in your replacement area, fixer or otherwise, will be your challenge.