If I wasn't able to get the cash together, using a private lender would've been a good option.

While I own quite a few rental units already, I thought condos might be a good option to gift to my kids when they turn 18, offering them a safe introduction to property ownership without too much risk.However, my challenge with investment condos is that the cash flow always seems terrible.

My clients love it here because of the positive cash flowing deals and lots of appreciation potential.

Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

This limits your refi options when you take your scores down under 660. 

Hi Jeffrey,It sounds like you're in a great position with your rental portfolio and cash savings, and I admire your commitment to keeping your investments!

I havent gotten an insurance for this and a week after close I consulted some insurance provider and he didnt offer me insurance options.

Don't leave this option OFF the table. 

Best of luck,Travis Hey Kevin,Since I definitely want to look out for your best interest, I repeat that investing out of state is the best option when you currently live in the very landlord Unfriendly state of CA.In addition, I never wanted a quad to live in as I just never liked the idea of living next to - above or below others.  

Unfortunately/fortunately, my clients and I have both been a position where we were armed with tenant reported violations only and acted accordingly and successfully.