So, if your total proceeds are $350K, $350K must go into your replacement properties.As @John Warren stated, best to get a 1031 Qualified Intermediary on board sooner rather than later so that they can review the specifics of your situation. 1031 exchanges involve several statutory requirements, but a good 1031 QI will walk you through the process so that you can stay a step ahead.

Partnering involves negotiation too.

My suggestion to you to get involved in Real Estate is to start attending Real Estate Investor meetups/networking events. 

I am just curious to see why it has been foreclosed for more than 2.5 months, without any investors getting involved.

Be involved and be able to make and act on your decisions.

I have done real estate in the past and as a NYC expeditor I have been involved I many deals and know what to loom after.

I swore I would never get involved in rentals, but I think I was only looking at the negative.

I have a meeting in the morning with a private business owner to see if he wants to get involved in small micro loans at a good rate of return.  

So my questions are:  How do I prove what it needs in repairs to be habitable and the cost involved to back up my low offer and when do I do this?

@Ryan RoeschHow odd, I was under the impression VA loans never have PMI.