This won't be a full time job for me as I am a pilot by trade and am quite happy with my day job.

Gross rents are 6225 a month.. because 3 of the lovely trailers are condemned and have to be dismantled in place.. ( hoping to trade a metal recycling type person for free dismantle and haul off.Its on City water and sewer I would not have bough it if it had not been.

In order to be eligible to do a 1031 your intent must have been to hold the property for productive use in business trade or for investment.  

We're investing in a college town too, so I'd be happy to trade advice. :)Kelly

Yes, you need an executed Contract with the Seller before the entire package is submitted to the lender.

Promising one lessee rather than 4-5 non or slow paying ones.Going in and cleaning house, creating cashflow, and after 1-2 years, executing on the option and either taking the property subject to or having the seller carryback.Am I living in naive bizzaro-land or have any of you been able to structure a deal like this.Brian, are you listening?

Your seller is trading off some of the cash flow as she will no longer be an owner but a lender.

Luke Faulconer If I had to start all over and I thought Real Estate might be my ticket, I would 1) Attend the local Real Estate Investor meetings (all the people who do what you do, are all here) and 2) Find a mentor (which you can find at the local REIA meetings). 3) Build a team of all the people you will need in your real estate dealings, CPA, attorney, realtor, and build a list of backups, 4) Build and execute a system with which you practice real estate, do the same thing over and over and over and over again, until you are the best in your market at what you do.5) Along the way, HAVE FUN, remember that every day is Friday!

I have the mailers ready to mail with a great yellow letter, but I wanted to make sure a local title company could execute an "assignment" contract.

Nate Wong https://www2.cslb.ca.gov/onlineservices/checklicenseII/checklicense.aspxSometimes contractors that are doing several types of trades on a project move workers around depending on what is being done, and trade needed at the time.