Three will be leased and in good good shape when the deal closes, two vacant and in need of repairs, which will bring the all-in cost, including rehab, to just a hair under market value.

I was just following instructions and it seems everyone including myself are just stumbling our way through this learning curve. 

Comparable homes that are finished in the neighborhood sell for $160k.  

I actually have to finish listening to the audiobook since I got sidetracked with the podcasts.My family owns a large plot of empty land in the East Bay and I'm interested in building some rental property on it.  

That would defer the tax on the other 50%.The only fly in the ointment I can see is that when your parents were buying that property initially to finish up the first 1031 they had to have the intent to hold it for investment purposes. 

What does it include - attorney time drafting, recording fees, time/fee to record the deed? 

We are however no longer liquid after just finishing a major renovation.

Fixer uppers or finished.  

I actually just finished Chad Carson's book about retiring early with real estate... and the one story in it where the investors lost everything in 2008 was with note investing, not real estate. 

Need to know how to draft a wholesale contract and what to include in it to cover my back.