1031 exchange How did you find this deal and how did you negotiate it?

You can leverage HELOCs to buy more properties (I haven't down a down payment since 2015 and between HELOCs, 1031 Exchange, and a partnership, by next week I will have a total of 16 doors with almost no money out of pocket). 

Along with what @John Litz is saying, doing a 1031 exchange on the lower performing properties to buy in areas with more growth potential, would give you that diverse potential for greater cash flow.  

We got a 1031 exchange offer (as I expected) they offered 1.2 Million (150k under our asking).

I am about to say this precisely this word.Our friend here Chris is the best in risk management.

Hi @Mary Chen, If we are utilizing a 1031 exchange on the sale of this property the expenses you incur for repairs wouldn't necessarily fully translate to cash in hand at closing without potential tax burdens.

1031 exchanges are good for level up - income, age, location, appreciation. if you like what you have, keep them, if not sell them.

Sorry to not offer a connection, but for this one I think your best bet is to find the "land specialist" realtor in the area and get a CMA.If you want an extremely precise number hiring an appraiser is most likely the move. 

It's turned out to be quite a good deal for us both, as they are paying all utilities, some maintenance, and have even contributed to some cap ex in exchange for a multi-year lease. 

I have considered 1031 exchanging, but as our buildings cash flow and are appreciating well so I have not seen much value in doing so.Thanks in advance for any insight and advice.