Question about Master Lease and 1031 exchangeI have a lead on a property and wondering when the timer starts for the sellers 1031 here is the particulars90 units needing of significant repair and re-position, property is currently @ 80% occupancy with most current rates significantly under market (units under market are month to month)Property is in a solid area and with the intended rehab investments will enable the 90% for 90 Days required for eventual agency debtThe owner wants to 1031 his money into other commercial properties which he does not yet have identified...he is thinking a lot less management oversightSo my question --  I've discussed a Master Lease with the seller giving me time to bring the property in the 90 for 90; however, checking to see when his timer starts for 1031 hoping it is when the option is executed? 

That being said, you've got 45 days to identify a replacement property :) In total, you have 180 days to identify and acquire a replacement property. 

If the purchase contract identifies the title co, then stick with that.  

This will help you identify your "Core Four" and help you build a team elsewhere. 

Yes, this is a common course of action among tax deliquent property buyers but I have never been successful for the following reasons:1) You have to research the deed to the property and ensure all owners are identified and sign the quit claim deed.  2) Contact the IRS (or have a real estate lawyer do so) and find out if there are any outstanding federal tax liens on the property.3) Contact the local county and city officials to get a list of all civic liens other than taxes due. 

Part of being a wholesaler is being able to identify what is a deal and what isnt.

Lots of people identify risks to action, but can't focus on risks of standing still.

Identify every term of the rental agreement that has been violated.When things get to this point, it's difficult to save the tenancy, so my approach would be to talk with the tenants about a move-out plan.Do not focus on the domestic violence.

There are a couple of methods.1- Contact local operators and ask them if they are looking to expand2- Attend our training and meet potential operators in the class3- Put ads in all of your usual places advertising the property that way.Realistically,I would not suggest buying a home for this purpose UNTIL you have the tenant identified.  

@Mary MitchellHmmmmm, what if you identified up to $40,000 worth of work (mostly exterior, but not major) in order for it to be an optimally functioning property?