When you want to buy another property, your income must be sufficient to cover both mortgage payments (the new property mortgage + the higher balance on your cashout refi mortgage).

For example, just having a real estate license isn't sufficient to gain membership to a MLS, which I believe most are owned by commercial third parties...As for our local boards... 

I'm not a tax professional nor do I play one on TV or did I sleep in a Holiday inn Express.

We help investors to fund their deals, and making sure they have sufficient runway to qualify for multiple deals.

I feel like maybe I’m just getting cold feet and don’t want to sleep on a good investment.

My husband is incredibly handy and loves reno’s (he will lose sleep from the excitement of finishing a project).

In the past there were more options to get creative with seller financing etc to put down less than that, but now the primary lender in general won't allow this as they want to assure you have sufficient skin in the game.

This poses a challenge because one of the requirements for a 1031 exchange is that both the relinquished property (the property being sold) and the replacement property (the property being purchased) must be held for investment or used in a trade or business.If your client's mother purchased the land less than a year ago, it's unlikely that it would qualify as replacement property for a 1031 exchange because it hasn't been held for investment or used in a trade or business for a sufficient amount of time.However, there may be other options available to minimize the tax implications for your client and his mother:Hold the Property Longer: If your client's mother holds onto the land for a longer period of time and can demonstrate that it is held for investment purposes, it may become eligible for a 1031 exchange in the future.Consider Other Investment Properties: Your client could explore other investment properties that have been held for a longer period of time and would qualify as replacement property for a 1031 exchange.

Thank you for your guidance through the years, Personally, I think being debt free is the best way to get a good night's sleep.

Meanwhile, I'm earning a strong six figures, providing eight jobs for my community, and sleeping like a baby!