Once they exercise seller financing, the property is sold and all 1031 rules apply. 1031 has specific timelines.

To get around this some folks will purchase the vehicle in an LLC and then sell the LLC, and this is not breaking the agreement.The same thing would apply here.

@Seidy Lasker Wash sale rules apply to stock options if they are deemed "substantially identical" to a security sold at a loss within 30 days, such as options with similar expiration dates or strike prices.

Plus now they are trying to pass the buck with regards to the the STAR rebate we get here in NY state (if eligible and applied for).

Quote from @Jay Hinrichs: Quote from @Don Konipol: We have a saying in Texas that seems to apply to the subject of this thread“Big hat, No cattle”. 

This is where you generate cash and you can then invest it in RE - or something else.Most of the guru content was written a decade ago and it just does not apply the same way it did back then.

@Ethan Slater here's some info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Applying for assistance means YOU get paid and helps YOU.

So, an area might have been D class 20 years ago and is C class today in terms of what the property condition, crime etc show you BUT if the tenants still stigmatize the area in their mind then mostly D class tenants will be applying there because they have less choices.

@Augusta Owens here's some copy & paste info you won't find in a book:)-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?