Completing a 1031 Exchange allows you to defer that tax and depreciation liability and invest in another rental property or something like a DST (Delaware Statutory Trust), if you're an accredited investor.

@ Jorge De Jesus, Yes. 

It's weird that a lot of the gurus tell you to form an LLC in Nevada or Delaware etc. and they never mention forming one in the state where you conduct business. 

@Jorge De Jesus Thank you Jorge, i totally agree and I appreciate your input.

@Jorge De Jesus You have been provided excellent, real-world advice by @Dave ChapaLike @Bill Spell I am interested in knowing more about the deal specifics (you don't have to give the address or anything like that)

Check the Secretary of State's websites for PA/DE/NJ/NY for a list of banking institutions.

Thanks @Alex Deacon and @Jorge De Jesus I really appreciate the info.Alex, I definitely plan to network with some of my local wholesalers.

Here it is.The source is Trend MLSLet me know if you want to see any other county that covered by Trend (berks, bucks, burlington, camden, chester, cumberland, delaware, gloucester, kent, mercer, montgomery, new castle, salem, schuykill)

@Nicole De Lia Congratulations on your first investment property.

The listing agent is merely acting as a pass through and a de facto property manager.