I'm guessing that unless he's absolutely sick of the property, he won't let it go at a rock-bottom price.You're right about the nasty houses in the neighborhood.

So I walk in, and take the tour, and this place is NICE and BIG, and he's sick of landlording from Arkansas.

Last thing you want is sick tenants saying see where there was mold but the landlord just through some paint on it so we wouldn't see and we got sick from it.

Specifically in the area of Scotch Plains/Westfield that might also be an investor?

I actually worked myself to exhaustion last week and had to take a sick day to rest.

Plainly stated, you do not want non-accredited investors.4.

Check with your building regs department and see if it is available to build on, some or most or all of it could be limited as green space, water retention, flood plain or other issues as it is built up all around the subject property.If it is available, you said it could be obtained cheaply, how would you know that....is it listed?

65801 through 65810 The median listing price is just over 169,20080 bucks can cover a larger plain jane but 90-95 would be closer for the norm, brick fronts, above grade.Beginning of May, prices up .4% for the year on existing inventories according to BoR.

Additional expense is that MFH is in flood plain, so I need to spend $375/year for flood insurance.THIS WEEKINSURANCE - I purchased similar insurance coverage for $1700/year, compared to prior $2050 year.

Anyone have a link to a site that spells out 1031 Exchange rules more plainly than the IRC?