I’d love to hear about your goals and what you’re hoping to achieve here.

But, if a cost-seg study is done on the old property, you can manage Sec. 1245 recapture tax by doing a study on the new property to confirm it has as much or more Sec. 1245 property.You cannot swap a fully depreciated gas station for a raw piece of land and avoid recapture - you must replace all the 1245 and 1250 property.3) OZ - Sure you can defer your capital gains for a few years into an OZ fund, but the magic of OZ investments is the ability to achieve tax-exempt growth after a 10-year holding period.

@Dave Bobka @Justin Arnold So, if an investor is looking for a larger, family style home for a Section 8 tenant that is dependent upon public transit, this would be a great property, wouldn't it?

Maybe his investing style is just way more passive? 

Question 1: I’m aware of Reno 203k loan and Fannie Mae home style construction loan.

In Dallas, you’ve got a range of local outfits who focus on new construction..firms that, from what I’ve heard, know how to blend contemporary style with the Texan vibe buyers love.

I also wouldnt let your mom go into 2nd position on an investment property with any sort of restructuring; it doenst sound like she's in a position to risk being wiped out.Overall, though, if you want cashflow on the new property but cant achieve that after a refi into a market rate loan, it probably makes more sense to just flip it, pay off your heloc and your mom, and use the remaining capital for the next deal.

I bring sales experience from selling RVs and have always been interested in real estate investing as a way to generate income and eventually achieve time and financial freedom. 

It takes time and patience, but the long-term benefits are well worth it.I’ve personally gained invaluable knowledge, listings, and deals from friendships I’ve built over the years.The more people you engage with, the faster you’ll achieve your goals!

The forum may suggest things you hadn't thought about yourself that could make things more affordable/achievable for you.