Totally agree.

Hi Renee, I totally get where you are coming from.

So renovate this year, cash out refinance end of next year is totally possible!

It’s obvious the tenant is a total PITA and has zero desire to deal with all of your rules.

Here's a revised response with a more structured format:---Hey JeffIt sounds like you’ve got a solid deal in the works, but I totally understand your concerns about the 5-year seller carry.

As long as the total of the replacement properties meets your reinvestment target you'll still defer all tax. 

Quote from @Tom Gorrell: We have 3 rentals in CA and one in Kentucky (total value about 2.5 M)some W2 incomesome pension incomesome syndication income and some from a business (s corp)  @Tom GorrellIf they are providing tax planning and/or bookkeeping with the tax prep, then the price is reasonable. 

Spend more than half of your total working hours in an RE business in which you materially participate.2.

But I'm amazed that you were able to stream on 5 total devices with only 15 mbps.

I totally agree.