There is nothing mechanically wrong with the furnace.

I have an engineer that travels across the country for me and does a site inspection, environmental phase 1 study, and a cost reserve stable.The cost reserve stable is where the inspector looks at all mechanicals and other vital systems to the buildings including roofs etc. and then models out based on when they think those items will reach life expectancy and need replacement.

I was actually expecting something to be recorded that day from the bank, perhaps not the final deed, but something designating the property as having been foreclosed.It seems to me that until the new Deed is recorded, there is still a potential for a tax, judgement or mechanics lien to be recorded.

I'm looking for help structuring this possible sub2 deal:$154k mortgage$11k mechanics lien via bankrutpcy$8k rehab$4k back taxes/get mortgage current/moving money for owner$220k arvMy plan is to buy sub2, rehab (2-3 weeks) and either refi and lease option or flip.I have never bought sub2, so I was hoping for some feedback from the forum. thank you

Next you have to get the bank to agree to the short sale and all junior lien holders against the title.This could be second mortgages, mechanics liens, etc.Basically at the sellers asking price they are wanting a 6 cap for the property.

However, after that he needed me file a permit, provide a floor plan, and get electrical, plumbing, mechanical, and fire department signatures.

Learn the rules and regulations of the very business you're planning to get into.Would you want a mechanic to try and fix your breaks first, then only after you complain that they don't work to do the research on how to do the job?

Being a mechanical engineer I won’t hold the fact that you’re a electrical engineer against you ha.

I have another company who would then handle the more tactical areas (some tile, removing walls, openings for mechanicals, etc).  

This is far from an exhaustive analysis into the mechanics of 1031 exchanges, but the high level thinking may be helpful to those looking to understand one of many dynamics impacting the current buying landscape.