Retired Air Force looking to expand my retirement portfolio into real estate. 

Sometimes those small gestures can save you headaches when construction dust starts flying.I’m curious... now that you’ve pulled off this deal, how would you approach finding your next project differently, and what kind of local contacts would you prioritize connecting with first?

Saving $10 to miss out on proper data that leads you to a $40k deal is not worth it. 

That immediate tax savings in the new property is better than the infinite tax deferral of the 1031 exchange.Some questions:1) why use an irrevocable trust?

5 Tax Mitigation Strategies Every Real Estate Investor Should KnowAs a real estate investor, every dollar you save in taxes is another dollar you can reinvest into growing your portfolio.

If needed add a minimum of 15kModerate RehabCan save at least two of the following- Electric, Drywall, Flooring, Plumbing (likely touch ups in the other two)Redo KitchenRedo Existing BathroomsNo framing or architect plans neededPaintFinish BasementAdd a split unit to existing duct work (prevent from tearing up existing plaster/drywall)*Think of a grandma home that does not have knob and tube and has been on top of roof/windows so we aren’t as worried about mold/water damage*Light RehabComps do not need a finished basement or basement is finished to comp standardComps do not need HVAC or you can just add split unit to existing ductworkKitchenBathroomFloorsPaintNo major rehaul of mechanics needed (aka do not need to rip out walls)LipstickPaint, Floors, appliances in the most basic sense ARV Range Full Gut Moderate Light Lipstick +450 (A+) 150-300 N/A N/A N/A 380-450 (A) 90-120 70-75 N/A N/A 270-400 (B/B+) 85-100 60-70 N/A N/A 210-270 (B-) 75-80 60-65 45-55 N/A 170-210(C/C+) 65-75 50-60 40-50 15-30 140-170(C-) 60-70 50-60 35-45 10-20 120-140 (D) 55-65 40-50 25-35 5-15 Philly Neighborhoods Breakdown:A+ : Obvious Prime Real Estate.

Their property sat vacant for a few months while their guy "saved them money".

I would sit tight and save some more.

Right now, I'm drowning in much better opportunities and by the time I wrap those up, I'll be retiring on some riverfront property that I like. 

The point of the contract is to provide value to both buyers and sellers and  this deal saves the buyer over $1M in interest and easily $100k in furnishings while getting the seller their full equity and saving buy side/sale side realtor commissions.