They handed over the keys on June 6, which means the clock is ticking for me to itemize and mail them, although they didn't provide a forwarding address (I will mail it to the property and to my Mom's house, because she can always find family members).Here is my question.

@Joel Owens - I had a teacher in a property management class that way back in the day would fill evicted tenants cars with the items from inside the property and make sure the car was in a no parking zone.

ON the west coast as you know when you send your EM to title company and open escrow you will have a prelim in a matter of days.. you review that if there are issues you work on them but you don't incur further costs until those items are addressed.

Expected maintenance issues are based on a good inspection of a SFD, major items, like HVAC, septic tanks, wells and roofs need inspection and the condition and age should give an indication as to the probability of future performance.

Hi Adam,You need to DEFINE the terms of the Walgreens lease and what cap rate the seller is trying to get.Memphis isn't Nashville for quality so there is a basis point spread on selling.Length of term left on primary lease, any rental increase in option periods, NNN or NN, ZCF ( zero cash flow property ), corner location and cars per day, if any store sales are reported for that location per lease requirements, is there a CPI cap in the lease, is the store 24 hours, sales percentage to rent ratio, size and shape of parcel, median household income, population growth percentage, etc.All of these items and more will dictate cap rate and who the buyers are.You can present it to Tim Marshall at 1031 Exchange. 

In my eyes, customizing exactly how they want leaves room for an even larger return as some of the items they would want cost more to do.

That satisfies all requests for the item.

It is always prudent to obtain a copy of your estimated settlement/closing statement a few days prior to close and have your tax advisor crunch the number so that you know what items must be paid for out of pocket and which are considered permissible 1031 exchange closing costs.

What they have in mind may be of no interest to you the specific relationship and profit sharing are items that should be discussed on a broad basis to evaluate where you are on the pecking order and then take it from there.

Jenny - If you must, get any family personal items out of the mobile.