1031 Exchange Strategy and Financing Help

[Ray G.]

Hi Everyone,

Let me start off by saying thanks for reading this.  I'm looking for advice.

Situation:

I purchased a 4-unit property in a pretty bad area, didn't know how bad it was until over a year into the purchase, because of the headaches, i have decided to sell this property and do an exchange to get into a situation with less headache.

Numbers:

Purchased the property for 190k, putting 30% down ~60k with closing costs

In contract now to sell at 305k (amazing appreciation in the past 4 years).

-6% to pay to realtors ~18k

-closing costs, 2-3k 

has me around 285k for which i need to spend.

Scenario:

I am contemplating investing out of state (indianapolis) and buying some duplexes, tri's or quads. (buying for cash flow)

I'm a seasoned investor in Indianapolis and own many properties here already.

Likelihood is i will need to purchase properties within the 40-80k range and may have to do multiple deals in the short amount of time to get the full benefit of the 1031 without paying capital gains taxes.

I understand that i can do a mixture of cash purchases (having about 150k of equity mix of original funds and appreciation) and a mixture of loans (going to be needed to hit 285k total)

My questions:

Are there lenders that can help me with this situation?

Do i have my bases covered with the scenario listed above?

Can i use my 1031 exchange company to buy some properties in cash if necessary? Through Wholesalers etc?

Thanks again for reading and really look forward to your input.