You may do either a 1031 exchange or purchase a new property outright. 

My understanding of brokering a transaction is selling a property on behalf of another party in exchange for a fee.

Your job is to provide safe housing in exchange for rent.

With a private lender you could:1) Offer the owner(ask for) a discount on the 15k in exchange for a lumps sum of cash at the closing, and;2) Finance you repair costs, leaving your credit line intact for emergencies or other deals, and;3) Not have to worry about any 'cash out refinance' technicalities when you refinance, fitting nicely into your BRRR strategy.Granted you would have to have a reasonable fee structure with your private lender. 

So you would pay tax on the $50K but shelter the other $130Kish of profit in the 1031.Or you could do a complete 1031 exchange and after the fact do a cash out refi and use the refi money to reimburse yourself. 

From what I read online, if there is no cash exchanged, then there is only a $10 registration fee.

@Charles Hayzer Spoke with my associate we can setup a conference call in sometime Tomorrow morning around 10-11am if that works we can exchange numbers on A PM.

This is the same mechanism we use to structure Reverse exchanges and then "flip" the property we are holding back to the client.By assigning the LLC you avoid a second real estate closing, any transfer tax, title policy reissue, and revaluation by the county appraiser.  

It's a little similar to a 1031 exchange, but there's no intermediary needed and no escrow that has to be set up.

Granted you could always tell them "No, sorry...Get out", but more often than not these are great tenants who you've established a relationship with, and it's better to keep them in place than push them out in exchange for an uncertain outcome.It's also common to find more work that needs to be done (painting, floors, leaks, etc) that wasn't evident until the unit was vacant, which in turn often delays the availability of the unit.3.