@Steve Dudeck@Steve DudeckHello Steve, I have never done 1031 exchange but planning to do so in year or so so this is how I think it works (based on what I read so far for understanding the process and preparing for it).Capital gains are always calculated from your the last year depreciation mark.

I have to sign on for 6 months with them to get access to the list and I'm not prepared to do that yet.  

This could probably be lower if all items are in near new condition, but I have had $6k in gas line repairs for gas that couldn't be smelled, but the utility transfer caused a pressure test that found multiple leaks throughout the system.  

So that changes things quite a bit.I think you stretched my brain to come up with this as a possible answer, "Adapt as you go and be prepared to wear different hats for different situations, depending upon the size/makeup of the deal."  

when assigning an inspector make sure they test the water.

Quite honestly, it might be better if they left you off Title and just let the property pass to you upon their death --- if they haven't already, they should have a Will prepared. 

So be prepared to dig.

Testing windows is a normal activity when evaluating a property for rent.

You are young, test out these different opportunities and see what sticks.

The rates and terms are less favorable for commercial deals unless you have a relationship with a lender so be prepared for that.