Guidelines to follow:Only buy in low-cost markets if your costs stay under 75% even after paying for two major capital improvements, such as a new roof and a new water service line.Make sure you can eliminate all obvious safety and health hazards—like broken sidewalks, missing railings, lead paint, or poor lighting.

Other issues can be contractor needs to be fired but that partner likes the contractor because it is his brother-in-law, or they want to be more involved or less involved and the split is not good where you want to be..

Quote from @Carter Ledwith: Great point on the goal of balancing speed and safety.

Lessons can be marked complete to track your progress.

The funds in this case were likely held in their individual name, and a death, bankruptcy, or other could affect the ability to close out and complete the 1031 exchange.The safety and protection of exchange funds should be of utmost importance, which is why you should always work with a qualified intermediary that has some sort of regulatory oversight; not just an internal audit or something, but real regulatory oversight with an outside, independent regulatory audit. 

Quote from @Elealeh Fulmaran: Smart to draft the offer now and be ready to fire—come in clean with proof of funds, tight inspection focused on roof/HVAC/electrical/plumbing, and a short response deadline so you control tempo.

Folks are delaying or cancelling travel, simply because of anxiety about getting there and back home on time, and safety concerns. 

Just walk away from this mess and call it a lesson.

Appreciate any insight or lessons learned from your own experience.Thanks,

The lessons learned from your first deal will serve as a foundation for any future deals that you do.The single most important thing you can do is to make sure that you buy right.