@Arthur C.My reply will be under an assumption that an attorney (which I'm not) can confirm the following facts:You owned the combined land 50/50, and you owned the combined improvements (2 units) 50/50.If so, then my interpretation would be that you're not really exchanging anything, but evenly dividing the jointly owned property, without any tax consequences.

One place that I have saved money is on comfortable, functional seating that cleans up well - microfiber is a favorite - and you can replace the second it gets worn, usually about 2-3 years. 

I responded that I didn't install ceiling fans in any of my units and that the lights out side were functional and provided adequate lighting.

This means that her father and mother could give her a combined $30k gift ($15k each) each year without triggering gift taxes. 

It depends on your financial needs, combined with what the market you are looking in will offer in cash flow.  

I would suggest a combination of the two.

Fairly uncommon to see such a bundle or combined set of assets available for trade but not uncommon, more so in commercial deals.  

The rate is a function of the overall risk and availability of other options.So if the guy has a high net worth, lots of experience, offers a personal guarantee, and it is a project you can get behind 6% might not be a bad deal.  

Yes, electric outlets must be grounded, all utilities fully functional, faucets and drains function properly, carpets and linoleum not torn or frayed, weather stripping keeping the cold out, windows and doors close properly and lock securely. 

Is it functioning OK so far?