Several possibilities: The folks who grab up offers like that have other motives.  1) Maybe their intention is to bull doze and build from scratch, so the condition of the house itself makes no difference. 

Unless your intent was to hold that property for investment use it does not qualify for a 1031. 

I only offer MTM leases.At this point the new laws have done the exact opposite of our governor's intentions (well, not really - this was done to garner votes). 

Your intentions and long-term goals are much more important than the convenience, the "act now", the whatever urgent driving factor. 

The one part that gets sticky in home sales is if there’s a known issue that’s intentionally covered up by the seller.

My intention wasn't to say to ignore market cycles, I do think you should do as much as you can to understand what's going on in a given market.

So I assume your plans/thoughts/intentions are something the city/county would be ok with?

If you can demonstrate your intent to hold the property then the relatively short hold period wouldn't be a problem if you wanted to do another 1031. 

I've done things for some of my tenants here in Los Angeles that I'm sure would be highly disapproved of by the well-intentioned folks here on BP.

Purchase price: $100,200 Cash invested: $19,750 I bought this property with the intent to flip it but after sitting on the market for 2 weeks, I decided to keep it as a hold.The rehab was $19,750 and took only 12 business days to finish.