I was issued a 1098 by title upon sale, and I understand that I have to declare this in my taxes, but I’m not sure how to go about it given that this wasn’t my home.

I suspect many many folks have tried this and ended up in bankruptcy and basically ruined their credit life for a decade... so like U said one must be very very cautious with this approach....

If that scenario doesn’t include financial suicide, bankruptcy, death, or something similar, then knowing that I’ll be ok in the worst situation helps with pulling the trigger. 

Finally, you could just exclude the note from the exchange and declare a 1031 on only 50% of your property. 

We'll then write a promissory note for the amount, maybe attached by mortgage (if not, a lawyer said attaching a judgement lien upon default isn't too hard, provided no chapter 7 bankruptcy filing).Has anyone done this post closing?

We are also seeing a steep rise YoY in bankruptcies across all chapters (both business and personal) which is another indicator of not only the direction of the housing market, but the general economy as well. 

You could go to the magistrate to declare the place abandoned if you feel that's necessary.If you are only doing cleanout and demo during the quiet title actin period, there is plenty of time to go to the magistrate and have it declared abandoned. 4.

The whole thing could be declared invalid otherwise.  

The person who served the notice must complete the Declaration of Service form as follows:a) Indicate the date the notice was servedb) Indicate the type of notice servedc) Indicate the manner of serviced) Sign and date the declaratione) Indicate the place (city) the declaration is signed4.

Leading to stagflation and bankruptcies.