Build experience and track record before even thinking of asking your friends or family (or please no, strangers) for money.

Obviously I plan on increasing his rent to market value and switching utilities but hesitate increasing it past 20% due to the fact that during our walkthrough he seems like a solid tenant with a very well kept unit and even bought his own washer and dryers in the unit. 

Real estate is already relatively tax advantaged anyways.The prohibited transaction rules can be quite onerous - even some sweat equity on the property can trigger problems for you. 

Even if it changes after a mindset shift lol. 

Nothing major Mike,Just bought this commercial for pennies.Needs around $50,000 and will be a duplex.Washington Local.Easily $650pm per unit if not higher.Can't go wrong even tho it's on main road and factories close.Thanks 

The CFTB also happens to be even more rigorous than the IRS when it comes to auditing and reviewing 1031 exchanges.  

Intel will be even longer because of the sheer size, it'll house 8 chip factories and additional supporting operations over 2,000+ acres.

Even if your approval goes through without an attorney an appeal can be filed years later after your construction is completed challenging the zoning change (this is the case at least in Philadelphia). 

So, the seller's might not even be legally tied into any kind of sale.

Scammers can even spoof voices now making it difficult to tell whether a phone call is a scammer or your agent/title company/ closer.