If you sell a property, and do a 1031 exchange with the proceeds, but don't need all the proceeds for the down payment of the next property, are you taxed on the additional profit that isn't part of the exchange?

Quote from @John Mocker: ChristopherBelow is some info that I posted in the past.

If I were to do a traditional VA loan, the loan would be close to 7%.Below are what I understand to be the numbers so far:Seller purchased the property in DEC 2022 for $1.13M (owned for 2yrs)Current estimates are Zillow= $1.26M/  Redfin=$1.323MOur agreed purchase price is $1.25MSeller financing would be $120k @ 8% for 3yrs.No commission cost.Small percentage of fees/ costs in the tune of 1.5% of loan amount.Let me know what you think and if you need any additional info.

Then I would either go to your GC with the info, or go directly to your subs (licensed electrician etc.) with the info.

So if you are doing an addition, you are only contributing to the structure portion of value, not the land value.

Great info, thanks Felicia. 

I'm not factoring this in right now, going based on the numbers I see.Definitely able to put down additional funds to be creative with a lender, at the numbers you are thinking. 

@Bonnie Low this is great info and exactly what I was looking for.

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

I will gladly send over their contact info!