.$65Anticipating some capex for a new driveway and repairing the crawlspace which had standing water in it.Seems like a good deal otherwise.

Cash is an incentive for both parties.

I think its a little late to the party.. 

Yes, you definitely have to set that up in advance - doing a 1031 is complicated and involves using a 3rd party to hold funds, various timelines for identifying the exchange property, and lots of other restrictions.There's a ton of content on the site about the details - search the forums or the blog and you'll find it.

That babysitter is an employee.In the end if they -employee or contractor-- get hurt, they will likely sue you and say it is your fault--uneven ground, tripped on a hole, something making you negligent.If you do decide to go the paperwork route, just request their SSN and 1099 them for what you pay them,  That is the only paperwork that would stand up in court. 

@Tua Toiaivao I think the tough part is how competitive your local market may be.

A written lease should contain a "both parties agree that any/all other or previous or outside agreements are void" clause, that you could then show to a judge if the tenant pulls out an audio recording of a rent to own agreement with the previous owner (gotta be a bit paranoid when it's a $500k asset on the line).

They stand to lose a ton of equity.  

You need to own something free and clear, either as a stand alone property, or as a condo.

It sounds like you’re working on an investment strategy as of now and you’ll start to narrow in on your focus as you continue to gain insight and knowledge.If you’re looking to invest in a foreign market, having a trusted agent and property manager is crucial as is their network of trusted contractors and third-party vendors.