I spent $140 in one week, $20/day.

Your sibling can either take the cash for their 30% or they could do a 1031 of their own.If you and your wife file a married joint tax return then the IRS sees you as the same taxpayer. 

However at the end of the day I do think self-managing with systems and processes is a great way to keep more cash flow and ensure higher quality tenants.

Taking this extra step ensures veterans have the same opportunity as others to compete in a tight housing market.

1. you're right in the new ones from developers don't produce any cashflow. you might want to look at the secondary market to get better yields as the properties are already built and can cashflow right away. also easier to see comparable rents in the same development. check bank repos, distressed sellers and the like. you might also want to get a parking slot for added income as they can be leased out separately. it's also quite difficult to sell without one should you decide down the road. developers usually have an in-house leasing team to handle property management which we use for some of our properties.  

I must've been day dreaming! 

Same boat here...same boat here!

One day miraculously an offer of his was accepted.  

I'm in the exact same situation and trying figure out the next step.

Hi Leena, Do you intend on occupying the property within 30 days of closing?