Also, important to confirm they will be warrantable condos for end buyers otherwise it will be very difficult for end buyers to secure financing and thus purchase the units. 

@Ricky Sanchez Since your vacant lot is titled under your LLC, a 1031 exchange requires the replacement property to be purchased under the same entity.

I purchased a home here a few years ago, brand new.

Purchase price: $172,000 Cash invested: $43,000 We purchased this rehabbed home and added a privacy fence, removed overhanging trees, finished the countertops, built a firepit, security system, camera's, fixed the sidewalk and turned it into an airbnb.

My agent is saying that we are unable to split the contract that way (or reduce the purchase price), so I'm trying to figure out options.

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

Purchase price: $172,000 Cash invested: $43,000 We purchased this rehabbed home and added a privacy fence, removed overhanging trees, finished the countertops, built a firepit, security system, camera's, fixed the sidewalk and turned it into an airbnb.

Purchase price: $162,500 Cash invested: $75,000 I was offered this property directly before it went on the market from my agent.

I didn’t want to be waiting days for them to get back to me about edits to the purchase agreement.

You also pay less in closing costs overall since you aren't paying lender fees on the purchase loan.