I can't tell visually but I don't know what else it could be.  

The visual assessment in the basement found plenty of mold on the floor joists above. 

Anytime someone says something like that to me or my staff (usually fishing or outright asking for discounts or special treatment) I immediately write that investor off as a time waster.

@Darren Looker There are several factors to consider in order to fully assess the various approaches.SDIRA vs Solo 401k: Solo 401k can be used by those with self-employment income and no full time employees (other than a spouse) and benefit from more favorable tax treatment than SDIRAsWhat is your current marginal tax rate and how does that compare to expectations about the future?

RRYou should verify this but,Yes - there will still be tax depreciation recapture for her if a note is taken back, plus the recapture amount is not eligible for installment sale treatment (i.e., assuming she takes back a note and at least some of the sale proceeds are received after the year of sale), so she would have to recognize the entire recapture amount in the year of sale and pay tax on it regardless of whether she takes back a note or not.The remainder of the gain (i.e., above the depreciation recapture amount), if any, should be eligible for installment reporting.  

I rip out the stinky carpet and renovate the house including a roof, termite treatment, and all new flooring and appliances. $15,000 later, I have a really nice house that rents for $800 per month.

Are you suggesting disparate treatment would have to be proven? 

Real estate that qualifies for 1031 treatment (tax deferral) is any type of real estate you hold with investment intent. 

I just can't really visualize ever getting a deal that good.

Your cabinets will take up the majority of the visual space of your kitchen, so it’s important that you find a suitable color scheme.