You do not want it under priced, but it should have rented if it is comparable to others like it. 

., Syndications must be set up so you are purchasing a tenant in common interest of the underlying real estate in order to be eligible for 1031 treatment. 

I am having a hard time figuring out how to get a wholesale property inspected or repair costs verified by a general contractor before I put it on contract. 1) First difficulty is finding a good contractor to look at it before it's under contract since the good ones I know wants it to be on contract first. 2) The second difficulty is what if someone else puts it under contract while I am still having it looked at?

Do not expect them for nothing but if they can depend on you later they might work for you and/or get paid later, some of them will work under those circumstances.Good luck to you!

Many folks under estimate the cost of the rehab and think that it is worth more than it is after the work is complete. 

As a general rule of thumb avoid anything under $100k, the pro forma numbers will look way better than the actuals, and avoid flood zones.

the building is still under his name and would go to his heirs, sounds like the 3 of you would be running the property for him while he makes the money. if you entered into this there would have to be some kind of agreement that you take part ownership. on the other hand, this would also be a great way for the 3 of you to learn about real estate and tenants, yet be able to walk away if you can not handle it.

I know my market very well but I never imagined 5 days to be under contract.

Being on sea duty i will definitely need a PM to manage the property while I am under way.

Hey guys, I have my first MHP under contract and was wondering what kind of rules should be enforced?