It allows your QI to form a holding entity called the Exchange Accommodating Title Holder (EAT) that takes title to the new property and holds it for you until the old property sells.   

Notice I made no mention of a dining room to eat in. 

Last time I rented it was 100% for location, being near the freeway and being near awesome places to eat and socialize.These are just things to ponder.

You will have additional costs associated that will eat into your gains like bank origination fees, closing costs with attorney fees, etc.Hopefully that helps a little.Kurt

If they did, I'm willing to take that risk because I'm confident in my ability to argue my position, my local judge is pretty fair and reasonable, and I can eat the cost if I lose.Your mileage may vary.

You don't take on a deal where the leverage eats up your comfortable cash flow.

I tip when I sit there and eat the meal.

Those same tenants may tear that place up, eating through your cash flow quickly.

The cost of getting a new loan after putting the first loan on is going to eat up most of the benefit of refinancing, for most situations.

Getting started was at least half the battle, take a second and celebrate starting.It’s like her comedian that says he gets asked all the time by strangers where they should eat.