I would then sub-lease the property to tenants and manage the property, retaining the rents minus expenses.Advantages to me:  greater cash flow now, as I would be free to rent out the property and keep all revenues (minus expenses and the 2% lease fee)I can use the purchase in 3 years as the replacement property in a 1031 of another property, alleviating some of the concerns around finding replacements.Advantages to him:  less tax, and therefore better returns.Here are the downsides that I can identify, and I'm looking for input on others:I have to pay tax on the net income, as I would have no offsetting appreciation. 

they had plenty of time to identify the problem. 

It’s a simple concept, but investors sometimes struggle to identify which properties have the potential for good profit.

However, part of my background is in identifying fraudulent documentation, and because of that I don’t automatically trust contact information provided by the applicant.

Hard work does eventually pay off.Buying off Market or off the MLS looks very similar now that you identified the deal.  

I've identified a few condos that would work well as buy and hold rentals.

I ended up have to owe $1200 because my wife and I cashed out of an old annuity account which turbo tax identified as income.

Do they have a new opportunity identified?

In underwriting any commercial loan the lender will want to identify three sources of repayment.

My partners and I have identified some properties that we are interested in, located throughout Columbus, OH.