Once you have reached some level of success, you can then take actions like this to help preserve it.For those of us who still do not have that level of success, we have to take far more risks and use a lot more leverage.

I am looking to start a property Preservation/Foreclosure cleanup business with a family member who does Rehab’s currently.

If I were on the other side of town, I might have some peace of mind at least as to my own safety, but I feel like my decisions as a property manager are definitely influenced by that personal desire of self-preservation.

It preserves your credit, and if they do ever sell it to a debt servicer/collector/factoring co, you can offer them a smaller lump sum (they are usually much more amiable to this option than original creditors) or if you get behind, most collection companies accept pay for delete requests, whereby you negotiate an amount to settle the account and they in turn delete any record of your payments made or otherwise.

Too much is on the Personal side, Schedule A and creates the DTI ratio - - yes by all means manage that.The income property on Schedule E is a wash (debt is covered by receipts), carries net income back to the 1040, but does not contribute to the DTI - -So use as much OPM as you can get to preserve cash.

Capital preservation should be top priority, and go from there.

Old friends that own stuff and are influencers (I know from the Main St Association, a historical preservation club) stopped to chat and told me of a friend of theirs that also owns stuff and has an empty dumpster this week just down the street.

The 180th day is not extended.Some other 1031 exchange intermediaries hold the same opinion:Equity Advantage  https://www.1031exchange.com/i...Greenberg Glusker https://www.greenbergglusker.c...However, some other companies are saying the oppositeFirst American Exchange Company https://www.firstexchange.com/...Asset Preservation, Inc. https://apiexchange.com/disast...Affected Taxpayers: An “Affected Taxpayer” includes individuals who live, and businesses whose principal place of business is located in, the Covered Disaster Area.

From there - you will need to hire a surveyor to survey the land for several reasons: 1 - to come up with potential plot lines; and 2 - to identify any areas which may be of issue (such as preserved lands, wetlands, etc which you cannot build on or cannot be used in calculating gross build-able lots; and 3 - identify where you can put septic and well (if no public utility exists there). 

Rents have increased nicely, but not nearly enough to preserve ROI.This year we decided it was time to sell, and everything is under contract and set to close just prior to the new year.