You can use your commission for down and closing.  

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

I usually only have about 2k for closing costs out of pocket.

Our home is located in a great neighborhood, right next to excellent schools, close to several hospitals, and other amenities. 

Seasoning is the time period between from closing of the last transaction to the closing of the new transaction. 

It's close to home.

Though, my main goal is to be break-even or close to it in cash flow once a property manager steps in to take over. 

I like the feeling of being close by to my rentals and managaging myself. 

Another aspect that's important is to communicate to your relinquishing property buyer (Boston condo) that you're going be doing a 1031X and that they can offer you flexible closing time.

There is a $340 difference but if you had to put down a 15% down payment that means you would be putting down $30,000 more at closing which would be left in the property unless you held it long enough to do a cash out refinance ($200,000 x 15% = $30,000).