The 1031 exchange can be a powerful strategy to mitigate the tax issue.  

I think it is a powerful tool for growth if used with great care, but one must also be aware and respect the fact that it can also be a powerful tool for destruction.

Alex Craig Pros: Free for teachers & students, 50% for nonprofits, free 30 day trial, Collaboration Tool Cons: Not designed for real estateMS Project “You can not beat MS Project and how powerful it is for the price.It is COTS and I have management a portfolio of $500 million construction projects with it at once.Build your MS Project schedule with cost and export to Excel for status updates.

I'm currently building my "power team" right now, and a good contractor is a MUST.  

With an understanding of your goals and financial power, you can get what you want.  

No idea how much it costs to get it ready, paint the stripes and install the solar powered credit card machine.  

Also consider that because your 401k is tax advantaged the power of compounding will be significantly greater there.

Hand tools and power tools get buttoned up and brought back to the shop daily, which makes it super easy for my lead carpenter to keep a running inventory.

Problems start due to CA REI's:1 - Lack of MI Market knowledge2 - Lack of Power Team in MI3 - Distance4 - Management5 - ...and more.This is why I stopped going with the traditional Turn Key model with my CA (and other OoS) Partners.  

He has a video about 1.5 hours long (i believe its called the power of zero) on buying apartments with 100% owner financing.