You just don't go 15 years without major expenses.Will you go to Memphis in person to take a look at this property or others? 

According to the person doing the survey, one of my neighbors was about 3 feet inside of our property.

He has nearly 40 years experience and his properties are owned in his personal name.

@James Wise my knee-jerk reaction when I read the e-mail this morning was "Huh, so your telling me it's about to get a whole lot easier to negotiate for seller contributions". 

Let them set a month to month lease and then pay you as the cleaner/maid/contact person.

They are not typically designed to create a profit for the person running it, although frequently that person does well on the deals that come through the REIA's membership.

A 1031 exchange is only an option if the properties you're selling and the property you're buying are for business use (generally, that means they have to be rental properties, used for your business, or held strictly for appreciation and not used for personal use). 

All transactions involving your IRA must be "arm's length," meaning that you or any other "disqualified person" can't be involved directly or indirectly, and that is not the case as you described above. 

I would like to find a lender who can approve me based on the property and what it will bring in monthly as a rental rather than on my personal finance and credit. 

Please email me at my personal email if you have time to chat - need people in my area to offer guidance and suggestions.