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.

I have a construction business and original intent was to do the rehab and turn it into a long-term rental.

If you don't have it under contract, you can't safely approach buyers, as there will be nothing preventing them from going around you directly to the seller.Personally, I have no intention of marketing my properties on Craigslist. 

It's a townhome, the tenant in it has been there 7 years and loves the area with no intention of moving and it is in generally good condition. 

So details can be helpful as to your intentions.

I am hoping to get it at least under contract with the intent to get my quotes together properly, at the same time get financing figured out.As for the seller financing.

I wouldn't ask him where it all came from or what his intent for it all is because frankly it doesn't matter.

I won't have to rely on 1031 timelines and can set my own price point based upon a) how much my primary residence appraises for (i.e. equity stake) and b) what kind of deal makes the most sense for us at the time and on our own timeline.In all I expect to pay no more than ~$12k in capital gains taxes but I'd like to pay $0 and trade up to increase my cash flows with the intent to hold for 7-10 years to take advantage of these great rates. 

My intentions in that case would be to pick up some properties at a later date if that occurs and we start seeing some deals.