A 1031 Exchange is a real estate transaction that takes advantage of a Federal tax law, so the state you do it in is of no consequence.

Enough” - “Your success as an investor will be determined by how you respond to punctuated moments of terror, not the years spend on cruise control”The Noticer: - “One way to define wisdom, is the ability to see into the future the consequences of your choices in the present.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

As people tend to forget, the law of physics dictate that the same causes have the same consequences.

Consequently you either sell to the least qualified owner occupant imaginable, likely pay 6% seller assist, get crushed through the home inspection process or come to the conclusion going through that process 4 times is not worth the hassle and find an investor to purchase the homes as a package at a discounted price.

No tax consequences for you or your wife.

Failure to comply with a court order can have severe consequences. 

@Eric JonesPerhaps a poor choice of words ... it's a consequence of being illiterate in two languages ;-)Through changing (hopefully lowering) the principal balance several times over the course of a period, you are changing the amount of interest accrued (or balance of interest owned/due if you prefer).We are on the same page here ... just some language differences.

Default Consequences: If the husband defaults on the HELOC, the lender can pursue the property as collateral.

They have nothing to lose, its like giving someone a free ticket to the football game, if they go great if they do not who cares they just do not go and there is no consequences for them.