it's a trap. i bet she just had a conversation with the coworker and automatically assumes they want it. she wants to get out before even the coworker applies. then it's "your problem"

If I was getting a sure thing and even if that sure thing didn't happen I got fat EM it's a no brainer versus a friend who wants the property but needs a bank to approve with all these conditions.

I am pre-approved for about $190,000 and have about $20,000 cash to spend on down payment, closing costs, repairs, and furniture (if I need to turn it into a vacation rental versus long term rental).Is my budget realistic or should I wait until I can afford to put 20% down on a property instead of 5% or less?

Listsource is going to be your best bet for finding a good list to target for direct mail.

Go start calling all your banks.Bank SearchThe portfolio lenders will have the ability to maybe fund something outside the box versus a bank that just generates paper and sells it off.If you get a bunch of NO's the banks sometimes still know private sources of capital or non-bank lenders that might fund your deal.

I need to ask a question and I bet there are people that can jump on in and tell me this information.  

I've seen this happen more than I care to admit, but your best bet is to get a local investor show you how your scenario is almost certainly a losing proposition based on your assumptions.

I think your best bet would be to go into your local bank with that information and get prequalified.

Bet you're almost there!

A QI would be your best bet on how to handle title in a 1031 exchange.