Hi Kush,I just sent you a referral by private message.I'm not sure what kind of advice your looking for but it's easier to respond if you have some more precise questions or issues.

I definitely want to do 1031 exchanges after 5 years or so on each property and move up until I can buy apartments.  

Maintain CommunicationMaintaining communication is like keeping the conversation going between you and someone else.In the world of real estate, it means that sellers and buyers need to keep talking to each other and exchanging information.This communication is super important during the process of buying or selling a house.Imagine you're selling your old video game console to someone.You both need to talk about things like the price, the condition of the console, and when and where you'll meet to make the exchange.If you stop talking and don't respond to messages or calls, it can make the deal fall apart.In real estate, it's the same idea but on a bigger scale.Sellers and buyers need to talk about the price of the house, any repairs that need to be done, and when the sale will happen.If communication breaks down, it can cause problems and make the deal more challenging.

They are desperate to have the first contract go through, and it's likely an opportunity to negotiate the price down in exchange for the 100% EMD.- You mention risk of researching title, etc. 

In which case you might want to think about a 1031 tax deferred exchange, which will allow you to roll your profit into another rental property (or two!)  

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational, thought provoking ideas relevant to REI.

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

The buyers are prepared to accommodate a 1031 exchange but I dont know how soon I can find a similar purchase in the auction.

It looks like it is a similar model except on a larger scale with precise rehab calculations.

In this particular case, $230K-$350K is a huge range and you can not possibly make a sound decision, without a more precise number.