After a 1031, waiting 6–12 months before a cash-out refinance is generally advisable to avoid scrutiny on intent.

I’m also considering advising my tenant to look into Section 8 assistance, as it could help support their financial situation while allowing me to adjust the rent closer to market levels.

As a private money broker, I strongly advise real estate investors to be cautious and avoid any lender that requests upfront cash payments.

Can anyone advise?

Any advise or guidance is appreciated.

I would also ask my attorney about the advisability recording a copy of the contract or an affidavit of interest as I think it's possible the seller may have found someone willing to pay more for the property and I'd want a third party to be aware of my contract interest in the property.Lastly, I'd make sure the attorney I hired specializes in real property law, particularly in the county where the property lies.

Quote from @Muhammad Kashif: I would seek the advise of a CPA on this one..

My best advise would be to find a 1031 facilitator now.

What qualifications do you believe you possess that would make you a good candidate to advise others on the quality, safety and performance of potential investments?

@Anthony DiSanzoIf you're looking for low entry point properties that will stay in demand with a strong tenant base, I'd advise you take a look into the Memphis market.