As I applied force to try and loosen  the joint, the copper pipe twisted instead, and a huge leak started spraying water everywhere.

The cash on cash return was 15% on the house I was looking at (I DID NOT end up buying it).All in all, it was a refreshing twist on a very tired offering.  

@Steven Hamilton llNo one here walks on water, and YOU get to be the kind, gentle mentor to help us all learn as we go. 

it's pretty simple you have to know yor rehab costs and materials before setting the budget.Lots of people twist the budget to make the property work for a flip and end up with zero profit.Know your ARV and repair costs.  

., if they re-appraise your home to a lower value without the market actually going south, you could gently ask them if they REALLY want to kill this particular golden goose?

I could tell she was baiting me for some sort of negative response the entire time, either to use as legal leverage or for her own twisted satisfaction.

You would recognize gain and pay tax only on the property you sell.One thought for you as a twist on what you're contemplating.  

So, no this would not qualify for 1031 treatment.However, there's an interesting twist to this scenario.  

I am sure to be as wise and the serpent and gentle as the dove in talking with the appraiser and don't treat them like they are an idiot and I know it all. 

Slight twist to what you said though.