Completing a 1031 Exchange allows you to defer that tax and depreciation liability and invest in another rental property.There are many experts on BP that help investors perform exchanges on a daily basis, here's some more info on a few blogs I've written on this site.https://www.biggerpockets.com/member-blogs/7993/65931-import...https://www.biggerpockets.com/member-blogs/7993/65927-how-a-...

Hey mate,Sorry to hear about your troubles but it's not too uncommon.I've been in the turnkey biz for 10+ years now and have often been called the "bad guy" as we only sell to investors looking to purchase with cash.Many believe that because we only accept cash buyers, that we inflate the properties price which definitely isn't accurate.Quite on the contrary when looking back I feel that we under sold them lolWe can justify every one of our property prices with a CMA independent of our in-house sales.Whoever believes that financing a turnkey property makes it safe is wrong.Most turnkey providers or affiliates push the financing model (Even in today's high interest environment) to make more sales.They have "in-house" lenders or community banks that they establish relationships with and promise large volumes in loans.This in return get's rewarded with various favors and many are easily able to manipulate appraisals.Having flipped over a thousand properties, I know how easily an appraisal can be manipulated so for anything reading, "NO", financing a turnkey property doesn't necessarily make you purchase it for fair market value.To answer your question:When S#%@ hit's the fan like it did for you with this deal, I personally would always look to cut my losses and move on smarter and more experienced.Granted, over the years I have witnessed many investors buy 1-2 properties from my company and expect miracles only to get disappointed. 

Rather than me saving up for a down payment to use with a Hard Money Loan to quickly purchase a property, I spent the last 2 years trying to balance out my debt from the program and debt from daily life.MY advice is DONT DO IT.

Trying to nail in a location that will have high volume of renters.

Hi everyone,So here is the deal.Started a PM company 10+ years ago as a subsidiary of our turnkey company (IMO it's a tough gig selling turnkey if you don't also manage in-house)Hated the PM business for a good 5 years or so.Then one day I woke up and smelt the roses and realized that PM is not so bad after all.That of-course came at a time when things actually started to work and we actually started to "work" the systems just as they should be worked lolWe have reached a point now where it's a pretty well oiled machine other than the minor $#@% that we fix on a daily basis.The business motto is systemize, optimize and monetize which is a work in progress but chugging along.I'm confident that with the operation as it is today we are at a point where we can start to significantly scale.Organic leads are flowing in nicely and we grow at between 10-15 units per month or so.My questions are:1) How do we potentially find other "mom and pop" shops what want out of the business and we purchase to take over?

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I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.

The Daily, the NY Times Podcast - discusses the recent NAR bombshell decision that rocked the real estate world.BTW - Did you know that the NAR owns the company that makes the lock boxes that agents use every day?

I just don't want to have to look and experience the ugly rear staircase every day, especially in the summer when I am go to the yard daily to grill or play with the kids.  

Join the Houston investor groups as deals are posted daily.