Almost no lender will give you a 2nd home or primary loan where there are not two distinct living quarters if there is a 1031 involved. 

@Jeffrey Donis that's a good point...I guess we don't tend to think of the two individual cities because people reference them together so often...but you are right, they are 2 distinct cities. 

(Think of this like a payable on death beneficiary on a bank account.)This deed has 2 distinct advantages: (1) Stepped up tax basis and (2) immediately owned by remainder beneficiaries upon death.

Since you don't have any equivalent (AFAIK) that distinction may not exist.

Legally you are the same person (investor and licensed agent) so you can not operate two distinct entities.Being smooth on the phone is not enough.

There is a distinct difference between that and just owning properties for cash flow.

They are two completely distinct and separate categories.

There are only about 500 residential lots in South Atlanta so each renovation makes a difference.One of the distinctive characteristics of South Atlanta is the presence of an organization called Focused Community Strategies, a Christian ministry that has been working to improve the neighborhood for over 15 years.

It will be it's own distinct tax paying entity.And because it is now the tax payer for the property it will have to be the entity that sells and does the 1031. 

The distinction is that credit card debt does not have a secured interest in the property, whereas HELOC debt does.