They do produce people that are motivated to buy and I have the ability to put each bidder against each other in a competitive situation to derive the Highest Price under your terms and conditions.I prefer to stay in the South East, I am in Florida, however I will travel the US for a deal that can be done.I am a professional so, please do not call if you want me to teach you how to do auctions or if you do not control or own the property you are representing.

I am in a similar situation as yourself..

Blake,I do not know Darren Dicke and have never met him.Since this very old thread has been brought back from the dead, I feel compelled to say that the REIA situation in Columbus has dramatically changed.

Yes you will have re-finance costs, but I think it will most times be equally to or less than your hard money costs over time and it is a much safer situation to be in.

He told me to be on the safe side and truly avoid red flags I should wait closer to 2 years.1031 exchanges are based on INVESTMENT property that is bought with the intent of an renting or for business or commercial use, in other words not flipping (dealing), so in an audit situation you must be able to show that you intended to purhcase the property for investment purposes but for some unforseen circumstance (job moved, bad spot financially you had to sell).

So in my situation I'm getting a 75% first and I'm hoping at least a 15% second (or more).

We will have a phone call and discuss the situation.

Noobdog, your post all makes sense to me but as someone who is too new at this stage to consider setting up a formal business entity, here is how I *believe* my tax situation breaks down at the moment:o If I can write off enough depreciation, mortgage interest, maintenance, etc. to offset my rental income, I break even on my taxes because I'm a passive investor with a strong AGI so no loss allowed on my taxes.o If I don't have enough expenses to offset my rent, I end up paying taxes on my rental income.I'd be happy to hear if I don't understand correctly but I've read the tax code over and over and seem to always come up with the same answer.

If anyone can help please do we need the right advice can not afford to do anything wrong right now since we are trying to rebuild our credit which I know is a long road but we ran into a bad situation.

That would be great I appreciate it if you could refer me to someone that will not direct me to a worse situation.