Help! Great opportunity but funds required.

[Dan Goeckel]

My wife and I currently have (5) rental properties with a total of (16) doors. We have long (the last year) talked that our next step should be a larger building (8+ doors).We both have different view points as to how to accomplish this purchase.

One is sell a (4) unit building, 1031 the proceeds, then roll it into an (8+ door building).This would allow us to keep the appropriate level of necessary funds to support the other (4) buildings left and have some cash left over to support this (8)+ unit until we get our feet under us. There is a ton of equity.

Second option, and this is where we need some real world experience from people who have done this, not read about it or heard about it, but done it. Are there loans available or options, like assign address, live there a few days a week for a legal time length, to us personally, then refi, that would allow a 10 % or less down payment while still getting into a conventional loan or otherwise?

A little all over the map and I am sure that this pose questions. Please I welcome them.

[Alex Olson]

@Andrew Postell Andrew is correct that a 1031 exchange is a good idea. However, the timeline is only 45 days to identify up to 3 replacement property. You have 6 months from the date of the property you are selling to close out anyone or all of the 3 replacement properties you identified. It depends on what your goal is - cash flow? More units? Appreciation?