You have control and use of the property but not ownership so it still leaves the door open so you can do the 1031 on the sale of the old properties into the new one held by the EAT.  

The bank had not initiated foreclosure proceedings, but held on to the check. 

In situations where you sell for more than your cost basis, the gain is taxes based on the capital gain rules, depending  on how long you held the asset, i.e., long or short term gain.

They've held because it was never a financial decision in the first place, but if the financial decision is a large part of your decision, the Poconos is not the place to go.

This will drive more traffic, as there are many self-employed or people wanting to buy but held back by previous foreclosure/BK timelimites, divorce, etc hampering them from getting traditional financing, and if you're wanting to rent it again quickly, and sell eventually, this would be a good strategy for maximizing your cashflow during the turn.

Get something signed by the seller and have some money held in escrow. 

I have lightly dabbled in real estate for over two decades, and even held a real estate license in Michigan for several years during that time.

i have been paying him.on time since August and except for the month of April I held back because he gave me an invalid 30 day notice. 

Property is held under an LLC.

., multiple site visits on an anonymous basis), apply analytical stress testing to pro forma financials and avoid certain categories of properties altogether (Senior Housing, Oil & Gas, etc) to ensure that all underlying properties held by the respective DSTs are prudent investments for folks who are not experts in making risk assessments for these larger operations.