I'm currently planning to purchase a commercial multifamily building in Chicago with the proceeds of a 1031 exchange.

We are currently regretting our move to RentVine and evaluating how to proceed.   

Hoping that someone could provide some guidance on this so I can decide how to proceed?

The tax paid from your lending proceeds should be the equivalent of your tax rate I would think.

but selling a trophy asset in a great area and then dumping the proceeds into money pits just because of paper math... would not be my step 1.hope this helps

Terms such as interest rates and payment schedules are typically negotiable.Combining creative financing with seller financing can include strategies like:Subject-to and Seller Financing: Taking over the seller's mortgage and financing the equity portion through the seller.Lease Option: Renting with an option to buy while negotiating seller financing for part of the purchase.Wraparound Mortgage: Keeping the seller's existing loan while they finance a new loan that includes the balance.To proceed, consider connecting with experienced investors, understanding local legal implications, and attending networking events to gather insights.

You will need their advice on your state & local laws to properly proceed.

But I strongly urge anyone to always get Aldermanic support before proceeding because it makes life--and the entire project / process--a whole lot easier. :)IN SUM: Based on what you've shared, it sounds like you won't need to rezone if you just want to build a duplex.

So I proceeded to pay for four appraisals that were like $800 apiece.

Let me know how you’d like to proceed!