I am considering the option of renting to section 8 tenants.

At least Section 8, aka housing vouchers, make some economic sense. 

I buy solo all the time and just use the standard PSA for my state that realtors use.Here's one for MN:https://www.mnbar.org/docs/default-source/sections/minnesota-standard-residential-purchase-agreement-(rpf-01).pdf?

FHA stopped asking for a clear Section 1 of pest report as a standard thing however many years ago, VA still requires it.

If they were looking to create some investment income and can afford to buy another home without using the proceeds from the sale of this one, however, a 1031 would be a great tool for down the road if they were looking to trade-up to a more lucrative property or move their portfolio into another market without paying taxes on the sale.It sounds like the tax exempt gain will be the best bet - it's called the Section 121 exclusion if you want to google it. $250k for a single person, $500k for a married couple filing jointly.Best of luck to you and your parents!

Takes the longest, lots of wasted materials and the construction tolerance is high.Panelized - They build wall section in the factory with insulation and holes for utilities.

Have 2 Section 8 Tenants.

Then we can go through the determination of whether the property qualifies for a Section 1031 Exchange, and what other options might be available for you.By the way, what did your Divorce Decree say about the property?

I cant seem to search the file section of BP and get one

c=1490143139 You need to go to the bottom right corner of your results page on the Rental Property calculator and select More Actions.