Make sure you have talked to an SBA banker before proceeding.

Your best bet is doing a cash out at 80% LTV to maximize proceeds, since most HELOC lenders will cap your loan amount at about $500k.

So, if the seller is unable to do it from their proceeds or something, then I would budget for that amount out of pocket if it is still a good deal at those terms? 

Deferring All Taxes - if you want to defer all taxes, make sure that the total value of what you buy is greater than $580K (or whatever your final combined net sales value ends up at) and that you use all of your sale proceeds as down payment on your replacement property(ies). 

Maybe take proceeds and 1031 into something more suited as a hold!

The answer is in the published terms of sale.Find a title company that understands that all that matters is that the sale proceeds wire transfer goes to the correct party. 

@Naresh Achary Vadla- thanks ...ask your CPA for opinion / options ....if you sell for approx  1 mill - your nest proceeds  will be lower than you think ... if you are not interested  in remaining a landlord- sell ...if no need for funds and being a landlord is OK -  keep renting it . 

This approach allowed us to proceed swiftly and efficiently, ensuring the project stayed on track and was completed without delays.

If you are using the HELOC proceeds to acquire land for a property that will be business use in some manner (a rental), then that interest expense from the HELOC would be deductible against that business project. 

IMO this should be standard operating procedures.To enable you to have hands-off REI, I would take a 10-15% markup as normal business.Try this:  Would you want to proceed on your own to find, schedule and pay for all repairs?