I am a twenty year plus licenses GC who has built over 100,000,000. in commercial and residential construction in the NY, NJ, PA, CT and CA marketplaces. I have flipped new homes and townhomes but phased out raising a...

But. you'll have to see what your net gain is before you can see if you'll save any money with your 1031 exchange.

I doubled my money!  

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And how much money are you making in your current job that you would want to replace with your real estate income?  

If you’re making a return higher than a bank CD you can support a mortgage.

Unless you're working with Private Money that is going to carry the risk of your lack of experience, banks want to see experience, Net Worth and liquidity after close to consider the terms.I started with single family, four plexes, and remodel flips for a lot of years before getting into larger deals. 

It seems not the best way to spend money.

That's good for my credit profile and supports a healthy score.

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