Ask her to get an estimate and then offer to pay half of that, explaining that technically you aren’t responsible to pay anything but are just trying to be neighborly.

We're now interested in the dirty details that people have gone through using the 203k loan.

I want to purchase this property, but need the most efficient way of estimating renovations.  

In 2014, she bought the 650-square-foot space on East 12th Street for $749,000, and planned to continue living with her parents on East 11th Street during the renovation.Four contractors estimated the work would cost around $120,000 and tried to steer her toward a more traditional look, raising concerns that creativity could cost her buyers

But there is a LOT of work you need to do beforehand - determine if property is occupied or vacant, what liens are on the property, try and estimate the renovation costs without seeing the inside, looking at comps, attending a few auctions to get comfortable with the bidding process, etc. 

A good QI will ensure that any details of a Construction 1031 are taken care of, so I would find one you trust and then consult them on the best course of action.For a little light reading, here are some articles on this type of exchange: http://www.exeter1031.com/construction_1031_exchan...https://www.1031exchange.com/improvement/https://www.cwscapital.com/insights/understanding-...Best of luck!

@Lauren Speidel thank you for the extra detail.  

Feel free to PM for more details on the project. 

I under estimated rents and over estimated expenses.

Total Insurance Estimate $ 262.50 Current rent $ 800.00 $ 9,600.00 $ 10.40       $ 21.88 Less: vacancy allowance - 10% $ 40.00 $ 480.00         Net Rental Income $ 760.00 $ 9,120.00   Property Taxes 2.5264% $ 505.28 Plus: Other Income $ - $ -         Total Income $ 760.00 $ 9,120.00 $ 9.88                 EXPENSES         Property Management $ - $ -         Repairs & Maintenance $ 100.00 $ 1,200.00         HOA $ 250.00 $ 3,000.00         Advertising & Legal         Insurance $ 167.00 $ 2,004.00 $ 2.17         Total Expenses $ 517.00 $ 6,204.00 $ 6.72                 Net Operating Income (NOI) $ 243.00 $ 2,916.00                 Less Debt Service (PI) $155.06 $ 1,860.72 $ 2.02         Less Property Taxes $ 42.11 $ -                 Net Cashflow $ 45.83 $ 1,055.28                 Operating Expense Ratio 68.0% (Total Expenses/Total Income)               MORTGAGE INFO         Total Loan Amount $ 20,000         Type of Loan Seller Financed         Term (Months) 240         Interest Rate .07         Down Payment $ 2,000 10.00%         Monthly Payment (PITI) $155.06                 Purchase Price $ 75,000         Closing costs $ 3,000         Rehab $ 7,000         Total initial investment $ 85,000                 LTV 27% Loan Amount/Purchase Price         Cap Rate 4% Annual NOI/Price         Cash-on-Cash Return 146% Annual before-tax cash flow (i.e., NOI)/Down payment