Like-Kind Real Property  The following list of real property asset classes represents interests in real property that usually qualify as like-kind property for 1031 Like-Kind Exchange purposes: Single Family Residential Property Multi-Family Property (Apartments) Commercial Office Properties Retail Shopping Properties Industrial Warehouse Properties Triple Net Lease (Net Lease or NNN) Investment PropertiesAgricultural (Farm) Properties Vacant Undeveloped Land Oil & Gas InterestsMineral RightsWater RightsAir Rights Easements in perpetuityLeases with a remaining life, including options, of 30 years or more Tenant-In-Common "TIC" Investment Property InterestsDelaware Statutory Trusts "DSTs" Investment Property Interests Vacation rental properties (income producing)

Are there any ways i can qualify for a loan on an investment property that produces cash flow ? 

The price of the property, and what the bank will finance, will be based on the income the property produces, the Net Operating Income (Gross revenue minus expenses) divided my the Cap rate.

This second property also produced an income equal to a months rental.So it depends on the ARV, the rent/building value ratio, down payments and how much the mortgage are.

My CPA said in the event of an audit it would be difficult to justify that 50% of my activity isn't coming from that business that produces significantly more income even if I can meet the 750 hour rule.

The paths available seem to be one of three (1) work at something producing more income than needed to live and save aggressively to acquire capital.

If either property has paper losses that exceed the taxable income of the other, that would neutralize taxes due, but your goal should be 1) produce as much rental income as possible and 2) maintain the property while carefully tracking all expenses and improvement costs so you are only taxed on the appropriate amount of income, if any.

The question is do you have a clear path for that money, the discipline to use it only for assets that will produce an income to pay off that debt or service the monthly payment.

So you are limited rental income produced from the tax returns. 

We have been actively working to put together the talent pieces that could eventually produce something fairly extraordinary.