I'm a local real estate attorney writing the Purchase and Sale Agreements for the investors who buy and sell without realtors.

Which is probably the first thing I would do if I were to buy this.Back to the numbers: Let’s say your write an offer at full price pending inspection.

I also have been writing down the addresses of places I like then I can look them up online and see if they want to deal as well.  

That's a niche that worth writing about.

Why would I write that?  

[You won’t get lien release instructions in the “buying documents” but you can write those up for your friend to send to the title company when you refinance.]To truly protect yourself if you give money to a friend to loan back to you, your friend should agree in writing they are getting a personal loan from you in the amount they are lending to you for the house and that they agree to release the lien simply by you asking, or more importantly do as you direct them to release.

You will find that either your anticipated tax situation will likely not require as much help from a depreciation write off, or that your exposure now is not so bad that you can absorb the 140K or so in tax from a sale foregoing the 1031.If paying the tax now is too painful and you anticipate needing more depreciation write off in the future then 1031 and use the gain to purchase more property than you sold and take both the remaining 12 or so years on your current property basis and the additional depreciation you gain through purchasing up.

Hello Jake,Are you wanting to wholesale the property, if so you would need to write them a letter explaining that you would like to purchase the house.

If you wanted to split it 50/50 you can write it up like that .

:PRealtors would get pissed at me if I started writing census tracts on preapproval letters, which is why you do not hear a lot about it.