You are going to have a hard time making it work (from a personal finance standpoint) because they don't cash flow well and they typically have high asset prices to begin with meaning you have to bring a lot of cash to the table or be able to deal with negative cash flow, but that is where you will get the best returns. 

CarissaCash flow means the seller is leaving money on the table.

Regardless, how does it work if a buyer comes to the table but you still want to keep the option for other bids in play?   

When you about to close on the new property, the 1031 exchange agent will wire the proceeds from the initial sale directly to the closing company and you will have to bring the difference in cash to the closing table to complete the transaction.

I run a boutique tax and accounting firm where we help real estate investors, both locally and across the country, with everything from picking the right entity for tax strategy, bookkeeping, and making sure you're not leaving money on the table come tax time.I joined this community to share insights, connect with like-minded investors, and help folks navigate the tax side of real estate (without the jargon or overwhelm).Whether you’re house hacking your first duplex or scaling a rental portfolio, I’d love to be a resource.Let me know what questions you have — always happy to help or point you in the right direction.Looking forward to getting to know more of you and being part of this awesome community!

So simple question (hopefully):Should I talk with a lender now before I have any properties on the table or wait until later in the process? 

In general, a 1031 exchange is only applicable for investment properties, and any personal use needs to be ancillary to the investment income it generates from rental income (I’m oversimplifying, but generally if you’re not operating this as a vacation rental and have minimal personal use, the 1031 is often off the table).Issue 2 requires some serious consideration before you move forward, and even if you feel you have a strong case there, I still think issue 1 is going to be a huge hurdle.Assuming you overcome the hurdles with the second issue, An alternative strategy to get around the first issue could potentially be using an EAT (exchange accommodation titleholder) instead of your mom taking title to the property.

Imagine where we would be today if we could wipe 90% of global competition off the table. 

Yes, I worked with a seasoned real estate agent who brought years of experience to the table.

Plus, each partner brings unique strengths to the table.