I would make the purchase with a 1031 exchange, putting approx. $220,000 down, financing 8% on 20 years, payment of $2,593. 

After expenses, it will be cash flowing 1k/month.My thought of doing a 1031 exchange seems like an option..trade in a 170k house for a few 250k homes and increase my portfolio by 600k.

This is referred to as a "Reverse 1031 Exchange".

They couldn't deliver one out of the two properties for my 1031 exchange.

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If not, could you find a private lender to bridge this in exchange for both 1st position on the condo and 2nd position on the new commercial property?

I currently have a California LLC that holds the property I will do a 1031 exchange on next year and purchase properties in South Carolina.

Depreciation: For investment properties, you can depreciate the property over a set period, reducing your taxable income.5. 1031 Exchanges: This allows you to defer capital gains tax by reinvesting the proceeds from a sale into a similar property.Feel free to ask any questions or share your own experiences!

Happy to exchange companies to avoid if it would help.And to answer @Michael Smythe's question, I interviewed the crap out of management companies with what I felt were great, in-depth questions, both times we hired bad managers.

I could also begin to exchange some assets out of CA to NV if the opportunity should arise.Just my 0.02