This one was purchased through bank foreclosure proceeding's.

I want to do a 1031 exchange with the proceeds into one or more MF properties.

The landlord can then proceed with the eviction process in court if the tenant does not remit payment.

I’m not an expert, but I don’t think you could live in the new property if you 1031 nor would you be able to access any of the proceeds for personal reasons.

For long-term strategies, a cash-out refinance is usually more advantageous, as it preserves ownership and offers fixed terms.To proceed, start with a professional appraisal to confirm the home’s value, compare refinance terms with traditional lenders, and carefully scrutinize shared-equity program terms to ensure they align with your financial goals.

I would pay one of them to review the full details of the transaction and give you a road map of how to proceed before going any further.

The numbers for investing in Detroit look promising, but I am hesitant to proceed with purchasing a property and accepting Section 8 tenants due to the long delays in rent payments.There are many Section 8 voucher holders looking for homes, and many tenants have shared horror stories about their previous landlords.

the proceeds of this refi then serve as the downpayment on another property that cashflows.  

This is often achieved with written documentation, such as a formal ROW request from TxDOT or other correspondence indicating that condemnation proceedings were possible if no settlement was reached.

So as a result of my “asset protection” procedures, the end result was that instead of being sued personally and having to spend the time, money and emotional stress of both defending my self AND suing the insurance companies and condo association, the plaintiffs accepted an ASSIGNMENT of proceeds and signed a form releasing me and my LLC from liability in exchange for the right to go after the insurance companies themselves.