It would be helpful and I appreciate it a lot on how you would proceed if you were in my family and I's position and on how to proceed now. 

I don't want to take out another mortgage so I would prefer to get something at the price point of whatever the cash proceeds end up being. 

(this will obviously affect how much you can borrow.)Could you get a heloc where they use part of the proceeds to pay off the lien so that they would be in their usual 2nd position?

Your exchange will die on day 46 and you get your proceeds back. 

If you decide to proceed with the purchase, make sure you inspect the property very well, top to bottom......OR.....There may be NOTHING wrong the the property and the Seller wants to sell it vacant so that he gets top dollar. 

Hi David,(1) I don't have much to invest ($280-$350k) and would want to diversify across different properties anyway (some DSTs are diversified, and I can probably pick up three different DSTs with my proceeds);(2) no direct participation in managing properties (tired of it);(3) illiquidity is not an issue (looking for a 7-10 or longer horizon, will need some cash 8-20 years down the road to fund the kids' college);(4) prefer paper investments in general, would be able to hedge declines in the real estate market with financial instruments (have a Ph.D. in finance and a CFA designation, but a newbie to RE exchanges).

Starting out his post with "this thread needs to be updated with new asset managers taking over", then proceeds to talk about his experience while lightly sprinkling some discredit to my post.

I would propose re-investing all of the proceeds in additional properties in Cleveland, Ohio or Columbus, Ohio, in which it seems like you are highly likely to secure additional windfalls, after which you will own the majority of properties in Cleveland, Ohio or Columbus, Ohio.

i dont know why people are bashing you for writing multiple paragraphs, that was hands down the best thing i read today.

@Brittany MageeDo they have a mortgage on it, as typically the lender will require it to be repaired or they take proceeds to pay off loanUnfortunately not much you can do