Each month's rent payment may consist of not only the rent, but an additional amount which can be applied toward the down payment on an already specified price.legal descriptionA property description, recognized by law, that is sufficient to locate and identify the property without oral testimony.lenderA term which can refer to the institution making the loan or to the individual representing the firm.

I am Derek Logue, Founder of the site OnceFallen, an advocacy and support site to assist those forced to register, as well as a nationally recognized expert on this topic, and I'm quite frankly shocked and appalled at the disgusting comments on this thread.

If your QI holds your proceeds until the end of your exchange period you will not receive the funds and recognize the gain until 2019 if your accountant reports it on 2018 tax return with installment sale treatment. 

What's more important is to recognize where in the cycle you are and be positioned for it, in my humble opinion.Personally, I would not be heavily leveraged now, or hold onto property in landlord-unfriendly states as we face at minimum, a correction, and possibly a bear market. 

We want to be responsible, knowledgeable, and skillful people, someone worthy of respect even if society doe not recognize out contribution. 

We got ourselves into debt, we recognized it, and are making our way out now.

That roadmap, as of right now, is outlined.Learn - Keep FTJ (Full Time Job)Books, podcasts, BP, peopleFTJ and PTJ options: Go back into being a residential handyman and contractorWholesale - Keep FTJRamp up Wholesaling, possibly until either quitting or finding a PTJ to offset Wholesaling goal - raise capital to flip laterPlataeu Wholesaling, ramp up Flipping while ramping down WholesalingPlataeu Flipping, ramp up Buy-and-HoldLong Term Goal: rental portfolio with extra capital to invest in othersMy motivation does include swinging hammers (I love the physical work), but I recognize that won't be where I need to put myself to make money past the short-term (and my body won't be able to do that forever).

An investor that knows cost will recognize that you cannot be trusted with numbers if you come if far too low . 4# Know the value of the property This one is very simple ,establish property value immediately ! 

It looks like a Rockwood home, but I don’t recognize it (I live on Highland BLVD in Rockwood).The realtor is also Key- have they marketed high end homes in Rockwood before? 

Paying down debt is a great goal but just recognize you are giving up a lot to do that.