You don't wan to be out there spinning your wheels for no reason.As an investor, and investor's agent myself, I've found my biggest value add is being able to develop a fairly accurate scope of work for the investor when walking a property before having contractors out. 

You're responsibilities to defer all tax will be for you to purchase at least as much as your net sale (your allocation %) and use all of the proceeds in the purchase (again the portion allocated to you). 

There has been an effort by the city to hold homeowners responsible for vacant and abandoned properties, which has resulted in positive changes.

The seller's (agent's) response was:"owner is willing to go to $235k, it's 5% down within 24 hours, a 5 or 7 day inspection...appraisal ordered w/in 10 days business days from effective date."  

No reason not to participate in the sale if your numbers are accurate. 

@Jordan Moorhead thanks for your response!

Thanks SO much for the detailed response, very, very helpful.

I know that spouse or even children are responsible for any credit card or auto loans/ revolving debt.

@Paul Stout Sorry I just now found your response. 

You could use presorted stamps which could reduce your costs but might also end up reducing your response rates.