The acquisition costs are unsecured and you lose a lot of benefits of investing in a tangible asset that you actually own and control.

I hesitate to involve family with money matters even though a lending partnership could potentially benefit both sides -  I just prefer to keep that separate.

My lending partner for example, is maxed at lending $2.2M currently, which is adjust by a number of things, including the level of deposits that they have on account.Your strategy is a common suggestion.  

This had two benefits; 1.)

I'm not very interested in becoming a real estate agent right now, but would going through the coursework provide useful information that could benefit an investor?

Those paying 6 caps probably expect an extended period of low rates, and want the added benefit of some inflation protection (rents tend to rise with inflation).

You guys have shared some golden informations on here and I'm certain that not only myself but the platform could benefit from it as well. 

They did you a huge favor for no benefit, so the least you could do is avoid complicating their tax situation.    

Of course a year from now the landscape could be entirely different so it is key to keep your powder dry and options open till then.There are a couple of twists to a 1031 that may allow you to still benefit from one and yet re-position your money to your benefit as well.1. 1031 into an alternative real estate investment.  

vlad, I would think you could dissect the comps more: square footage, locations, amenities and make some adjustments to get a ball park number .they may have been all over, but may help you make the "reasonable offer" if you can study them some and maybe get what  duplexes are going for on a sq foot basis in the vicinity, a factor which may still work in your favor as you will be newer and probably better conditon with a new/newer build...