Having it in the trust does not impact taxability or the mechanism of the 1031 at all. 

This is setting people up for failure and condemning them to never getting off of welfare.

Drive, passion, and willingness to learn, even through failure. 

I actually wish there was some mechanism by which listing agents had to compensate buyers the appraisal fee in scenarios like this (no, Brenda, an RV in the driveway is not an ADU, are you serious?)

this scenario is just ripe for failure.  

It turns out the interior/mechanical/electrical is a MESS and I'll get for $26K. 

You don't really have to pay the second guy full price as long as you do the walk-through with him, no report or insurance necessary.But home inspectors are generalists and too many of them come from the upper-end mechanical trades like electrical and plumbing instead of renovation carpentry, which is really what you need here.For your second inspection, look for old-home renovation people in your area, the guys working on historic houses, and ask for their guy to do a walk through with you.

The house had no foundation issues, and mechanicals and roof were in good shape.

So you entered into contract, had second thoughts, and are now thinking the seller's [apparent but still mysterious] failure to close is a gift?

Hello Everyone,I'm a Aircraft Mechanic working at TPA in Tampa,Fl.