Financing a SFH and a MFH

[Alexander Wodlarski]

Hi All,

First time posting. I'm looking to purchase a SFH and a MFH at the same time or within weeks of each other.

currently we own a SF rental with about 45k in equity, and making us $400 a month. Escrow at 1001/month and rents for 1400/month.

we want to sale our current rental to purchase a SF student rental with good cash flow. 155k PP 15% down and monthly payment of 990/m and rents for 1860/m through 2021. 

if we can't sell our current rental fast enough to do a 1031, would taking out a HELOC on our primary home (65k in equity) be the next best thing? Then paying the HELOC back once our current rental sells?

we are also looking at a MF student rental for 200k, 25% down and a monthly payment of 1000, and rents for 2650 through 2021.

After we close on the first deal and pay back the HELOC we would have the same 65k available to us and use that for the down payment.

we plan to sell our primary next summer to pay back the HELOC and buy another primary with a 0% down VA loan?

does this sound like a down plan? Anything else I should be looking at?

Thanks,

Alex

[Alexander Wodlarski]

Thanks for the info about the reverse 1031, I did call a few title companies and it seems to expensive where I might be better off paying the capital gain tax. 

The three companies I called were at about 5-6k to complete the reverse. Maybe a reverse will work with bigger, more expensive properties.

Thanks again,

Alex