Swap the note for cash and then complete the 1031 with all cash ($3 mil). 

I started out working in the call center so I understand wanting to swap it!

Unfortunately it could be months before you find out and by you backing out could send the seller to foreclosure.You can also do a single closing in an LLC by adding buyer 2 and then having buyer 2 pay off buyer 1 to leave the llc after closing.OR if you have the end buyer lined up, you might be able to swap out your contract for a new A->C contract for a fee from Buyer 2.

Label it appropriately, add in all the rents by unit, split out all the expenses, swap the BP logo with your own, then PDF it and it comes across very professional.

@Amber Saulsbury @Irina Belkofer is correct in laying the CAP rate formula, as I read in one post above where they included the financing expense which SHOULD NOT be included when calculating the CAP rate.Anyways, here in El Paso, Texas I can buy a multi family (8 unit or over) C- building with a CAP of 8% - 9%, Most investors settle for that, but my value play strategy is, I come in and rehab the units, add individual water meters and charge it back to the tenants, sign 12 months leases, raise rents, swap washing machines for coin-operated machines, you get the idea, anything that helps me reduce the expenses.

There is a saying that applies to 1031 exchanges: "Swap 'til you drop" ...

Would love to grab coffee and swap stories!

I’ve actually gotten an entire appliance set on Craigslist bc the seller was swapping out black appliances for stainless.

I currently work in a role auditing alternative investment companies (brokers and trading advisors in the futures and swaps fields).

They cannot guarantee when the technician will show up during that 8 work day, so it's not practical that I can leave work early to meet them there on a particular day.I've tried to make this a bit easier on myself by putting a combination lock on the basement door and when they call for the "we'll be there in 20 min" warning, someone can give them the combo, which I can later swap out after the service visit for security reasons if I choose.The issue I have run into is that "technically" (citing company policy) I have to be present for them to gain access and do the connect/disconnect.