The house built in 1960 may have been recently renovated and has all new mechanicals, (furnace, AC, roof etc)  whereas the house built in 1990 has most liely never had any of those replaced and they are now getting to the end of their useful life.

Mechanic, Magician, Mindreader.

There can be un-recorded mechanic's liens. 

I understand in Texas all liens are wiped out when the 1st forecloses except tax and posssibly mechanics liens.

that being said this guy is a straight up guy who works hard and is a dam good mechanic.

Your doctor, the dentist, the nice old lady who has funds sitting around begging to be used, or even the auto mechanic who does work on on your car?

Returns are nice, and the programs seem to have solid safety mechanisms in place. 

Second, the mechanics of a 1031 is very specific but not well defined in terms of specific timelines on the hold period.Another investor asked if there was a specific holding period.

Building is old (built 1900) but mechanicals are fairly new (last 4 years) roof is 15 years old. units are horribly dated and will need rehab when tenants move out but 2 of the tenants have been there for over 15 years and don't ever plan on moving.

Obviously once i get a proper inspection i will know more in terms of age of the mechanicals and how good the roof is and other things.