He has received a promotion and relocation is on the table.

Safe Harbors for 1031So in a 1031 both the relinquished property and the replacement property have to be held with the intent to be predominantly used for business/investment purposes.

a) SFR b) Title will be through LLC (first property)c) purchaseI went in for informational purposes to try and get an idea what I can expect so I can get more accurate numbers for my analysis.

I am not promoting but some of us newer members are going.

.-- (Excel was not meant for this purpose).BR1-  8x12BR2 -8x12Bath appox -10x5- with small vanity 24", 60"x30" tub and toiletLiving Room-10x13Kitchen-8x10-  about 10 LF of cabinets, about 22 sqft of counter tops.I have run some numbers and have a relatively decent idea of what I believe materials would cost per unit (around 8K), but the labor is the wildcard right now. 

I'm considering picking it up for the purposes of wholesaling two and holding one.

To get the numbers to work you target purpose built rental properties (multi units and apartments) where the value of the property is governed by the rental market.

I received my real estate license prior to this purchase for the purpose of getting in homes and making offers quickly.

Don't follow the frauds and scammers promoting putting properties under contract without funds and/or intention of closing. 

SFH as well as 2, 3, and 4-plexes are considered residential for financing purposes while properties that have 5 or more units are generally handled by the commercial department of your favorite bank.Many lenders won't touch a rehab project - you'll have to check with smaller local banks to gauge their interest in such a deal.Without putting down 20-25% you will most likely have to get creative with the financing to pick this up.Is owner financing a possibility?