So the property right next door to me is undergoing foreclosure.

I have a house on a busy street which bizarrely is currently undergoing a renaissance - lots of flips and some big new houses going up.

Purchase price: $178,000 Cash invested: $100,000 Sale price: $322,500 Fix and flip, the investor got fat on this one because it was a year project and we paid him 10% APR.

@Kaylee WalterbachHands down, an honest hardworking new agent, with a great broker, will be the better agent than slick 30 year veteran agent on fat-street, mr.

The FAT lady has sung. 

I read about the need for properties to be seasoned before undergoing a 1031, but I'm not expecting to have any appreciation subject to capital gains. 

....get fat

After all, my personal house had nearly doubled in value since purchasing it a year prior and I was feeling pretty fat about my new-found wealth.

LOL My statement was assuming that you had placed a fat down payment.Please don't take my posts offensively as I do respect the vast experience you share with the community, and do not intend to offend when I share my opinion.

To  boot, the property can be sold before even  under  going  rehab and already have a buyer lined up and  waiting, ready  for  the  purchase  of  a  renevated  property.