I'm originally from Buffalo, NY, and all my family is out there.

If so, it's probably just because the appraiser or assessor was wrong originally. 

Originally posted by @Tahra Wright:@Trevor Smith I was always taught to get the deal and if it’s good you’ll find the $.  

Originally posted by @Kelly G.

Originally posted by @J Scott:It doesn't hurt. 

Original first position lender most likely will not allow it2.

I assume that for tax purposes in the 1031 scenario, just like the basis and depreciation gets transferred to the new investment property I can continue expensing the loan interest to the new property (because it was used to acquire the original investment). 

However, my partner is on the original property's loan that we are selling.

I’ve moved property from my personal name to an LLP and the title company said the insurance is still good as long as the original purchasers are primary owners of the LLP.

At the end of the day, total finance charges (interest, origination and pre-payment penalties), leverage and cost of equity should be considered when deciding on the financing option that makes most sense.