And, that's why I would BEG you not to buy a property that just "breaks even!"

I even renewed their lease.

I am still getting 10 calls a day from agents , even as far away as 75 miles .

Since she was never who she said she was, even the eviction papers aren't addressed to the right person. 

Even if you know what they are asking for the building - ask - "What do you need for the property?"

I just want to make sure I understand correctly, so even though she will be receiving a lump sum in 3 years from the balloon payment (it is an investment property she's selling me, not primary residence), she can't 1031 that because technically when she sold it to me today she became the bank and no longer owns the property, so basically the lump sum paid to her at the end, is the same as a bank making money and therefore taxed as income tax?

@Vince Craig thank you for even thinking about this.

I haven't had anyone burn me yet and some folks even ask to pay 100% up-front to get it out of the way.If I may, one thing I'm curious about though that you all might do is credit cards.

It currently breaks even, but I'm hopeful the cash flow will improve over time!

Feel free to share any resources, tips, or even success stories you have related to being an assistant for a real estate investor.