Are you planning to sell it at some point in the future to pay for some life event (college, a wedding, a vacation home) or do you want the income to live off of in retirement? 

It wasn't a really large note and instead of arguing, he just paid us off.Here's the funny part.My brothers and I took a portion of the payoff and used it to pay for the rehearsal dinner at my wedding, since my father wasn't there to do it (grin) ...

It would be hard to gauge without a price range of the house, however that seems high for an uninstalled cabinetLoved our time in Asheville this summer for a wedding as it had an Austin vibe and some cool weather in July

Once the 1031 (and your wedding) are complete then you could work with your accountant to contribute each interest into a new entity. 

I’ll be up there the first week of August for my sister’s wedding.

Then two hours later, my tenants delivered an invitation to their mountain wedding in May--it felt good to know that I rented a very nice living space at below-market rent, to a lovely young couple who where able to save up to buy their own place. 

Private Investors and Wedding Money!

Need to continue crunching numbers (weddings are expensive).Good luck on your ventures!

My wife and I are wanting to use it for a couple business ideas, namely equine boarding and hosting weddings/events.

Hi @Nate Wilsonwelcome to the site, BP has a tremendous amount of information to help youI'm a local investor in the New Hampshire and i would be more then happy to help you out with any questions you havewe have network meeting at Nashua on the 3rd Wed of the month and it great place to meet with others real estate investor and we have numbers of deals done after people meet in our group, you can find more at Real Estate Events and Happenings Look forward to seeing you around!