Then, when you need to pay an expense for something like a repair you would just debit repair expense and credit the rainy cash account, as well as adjust the Excel spreadsheet.

Now, in a B-class neighborhood with average demographic of 22-32 will have a focus on open spaces, modern, clean, simple and adjusted finishes of granite, modern lighting, modern closets and so on will capture the revenues. 

With syndications, you can spread the same capital across hundreds to thousands of units.Govt financing, conservative underwriting, and management execution properly combined; make multifamily (in my opinion exclusively workforce housing vs luxury, student, low income, etc) the BEST risk-adjusted return of all real estate asset classes.

Austin’s housing demand is undeterred, and possibly strengthened by declining inventory.”Here are basic stats on residential sales for April 2020 for the City of Austin and the greater Austin area:Here's local market data on a more fine-grained time scale:Austin unemployment in March 2020 was a seasonally adjusted 3.4%, which was up from 2.5% in February (source).

That said, is the seller's cost basis adjusted for inflation or is it based on the actual purchase price he paid in 1993 when he acquired the property? 

Your seller should be prepared for that reality.So, while you could certainly help by introducing your seller to note buyers, I don't know that there's much more you should be doing in this situation.I certainly would not be trying to retroactively adjust the purchase price.What am I missing?

Therfore you would pay your capital gains tax on $60,000 and defer the other $40,000 into the new adjusted basis of your new property.

A community bank or credit union may do that, but expect to be on something like a 5/1 adjustable rate loan with a 20-25 year amortization.  

When an appraiser submits the appraisal to the lender and then the underwriter wants a lower value and sends it back to the appraiser claiming they don't like his adjustments or comparable selections?

The property will need a gut rehab including roof, chimney removal, floorplan adjustments, plumbing, electrical etc.