Overall, it is okay, but it still requires relinking the accounts periodically, which seems more security-related than anything else.

SPECIAL RULES FOR SECTION 1031 LIKE-KIND EXCHANGE TRANSACTIONS, page 135 states:". 01 Taxpayers are provided the relief described in this section if an IRS News Release or other guidance provides relief for acts listed in this revenue procedure (unless the news release or other guidance specifies otherwise)..02(1) The last day of a 45-day identification period set forth in § 1.1031(k)-1(b)(2)(i) of the Income Tax Regulations, the last day of a 180-day exchange period set forth in § 1.1031(k)-1(b)(2)(ii), and the last day of a period set forth in section 4.02(3) through (6) of Rev.

The unit was crappy to begin with and this didn't happen over a short period of time.

Most people focus on the numbers and then learn the rehab portion through trial and error/ feedback from other investors.

These loans allow buyers to purchase a property “AS IS, WHERE IS”.Renovation loans are available in 30, 20- and 15-year fixed rate terms and can be used to purchase owner occupied, second home and investment properties.By time the renovations are completed, the home needs to be in move-in, live-in condition and conceptually ready to be resold without repair issues.Other Important Items to Know about “Conventional” Renovation LoansMaximum – Minimum Purchase/Upgrade Amounts:Maximum: Limited to 75% of the “after improved” valueOccupancy: Primary, Second Homes, Investment PropertiesUnits: 1-4 unit propertiesRenovation Term:The renovation term for this program is a maximum of 180 days.The Borrower(s) is responsible for the work being completed within the escrow period.

This isn’t always the case in more sparsely populated areas, where vacancy periods can be longer, affecting cash flow.

Were the tenants brand new during the due diligence period? 

Lawn you can get feelers during the due diligence period so that's not the end of the world.

@Brandon Croucier That isn't correct... state laws allow you to enter the property within certain time periods, normally 24 hrs, with or without permission.

Upon calling a few banks, i am told that there is a minimum of 6 month holding period before I can do a cash out refi.