Intent plays a huge role and owning a property for at least one year is also a milestone likely needed.Something I just learned this year and that is all funds you placed into the purchase and rehab would have to be moved into the 1031 or else, anything pulled would be considered boot and taxable.

Congratulations on reaching a huge milestone, though I'm sure "retirement" is not the right term.

Since you want to evict and not foreclose, structure the transaction in such a way so your tenant buyer cannot ever reach either 5 years or 20%, but has to completely cash you out before either of those milestones are reached.

@Lavish Edwards Congratulations on such a big milestone!

and yes you can hire a VA for $5-$10/hr but what Michael didn't say, either from neglecting to point it out or from inexperience is you have to train that VA, which sucks if you have never done it. the logical thing he left out as well  and obviously didn't do the math is he said you can get a VA for $5-$10/hour.. well with REIV you pay $8.96/hr but get a whole team working around the clock and don't have to worry about doing time sheets, milestones, etc..and the $5-$10/hr he states would take a few of these VA's he is referring to, to get what the team at REIV does.Let's talk about the lists, my response since joining REIV is impressive.

Many of us understand at certain times in the beginning you have to do your own work to get started, build cash and equity You have passed that milestone a long time back.

When your GC is on the phone asking about something you can both be looking at the same reference.Set key milestones - post demo, reframing, etc, etc and make sure you are there to sign off before it moves to the next stage.Only you will have your vision and best interests in mind.Good Luck.

Money for the down-payment, for the loan closing costs, for carrying the loan until your exit strategy, for the first milestone of Rehab and most of all for contingencies...

The draws are tied to mile stones, so they don't want to cut a check every time you complete something worth a couple grand and would rather cut a check for five figures at a time.

Because of this, I negotiated a great rate from him, with specific bonuses in place if he hit certain milestones.