Property is very unique, before and after running into this I couldn’t find anything like it on the MLS.

I would never disagree with anyone that there are ALOT of hoops to jump through with the 203k, however, it is very unique in its ability to force equity for very little out of pocket, and with protections in place for newbies that allow for a lot of hard-knock learning and wealth building in the process!

But now on the other side of this thing, having gone through this experience, I feel like I am in a unique position to be someone that a person going through a tough time on their first deal can reach out to and ask those questions that they need advice on.

I buy the small colorful ones just to be unique.

How should I structure the repayment to my Dad?

.- 1 bedroom currently at $390 ---> market rent $440 (tenant longevity 6 years - immaculately kept apt)- 2 bedroom currently at $495 ---> market rent $550 (tenant longevity 5 years - immaculately kept apt)- 3 bedroom currently at $650 ---> market rent $750-800 (unique tenant situation; no lease, 3 dogs, 4 kids, no deposit, pays rent in cash)- 1 bedroom currently at $465 ---> at market rent (tenant longevity 1 year - immaculately kept apt) Additionally, the current owner is paying for water and gas for the entire building (each unit has its own electric meter).

With that being said, every deal is unique.

For that reason, you should make the LLC unique for each property.

Bonus depreciation is a great friend and I hate to see it go, but it does not serve any more meaningful purpose, than MARS depreciation.1031 is safe, it has been around for a long time and it is not unique to real estate. 

Most developers have brokers hunting land and bringing in deals regularly so the chances of finding something unique or of value to a developer is going to be an uphill battle.