I am very new in investing and am confused on whether I need to use a 1031 exchange here:I currently own a condo that my mother lives in rent free.

How can I help you achieve your goals in exchange for you helping me?)

Depreciation helps reduce the taxable rental profit, potentially bringing it to zero or even creating a loss, which can carry forward to offset future rental income or other capital gains.For high wage earners, other tax strategies could include leveraging cost segregation studies to accelerate depreciation on rental properties through bonus depreciation, taking advantage of tax-deferred exchanges (like a 1031 exchange), or maximizing deductions related to property expenses (mortgage interest, property taxes, insurance, repairs, etc.).

Ask if they have any other projects they need asset management help with, and offer your services in exchange for an equity stake rather than a paycheck.That's how I would think about it

So for example, you give the seller $5k upfront in exchange for the right to purchase a property (let's say worth $200k today) for $250k in ten years.

Can the limited partner use the proceeds for a 1031 exchange?

I am seriously looking to buy a property at Yucca Valley for Airbnb in the next 45 days, doing 1031 exchange. 

Manage the property for him in exchange for a 10% management fee.Accumulate the cash to use as a downpayment for your own investment property.

The appreciation and deferred profit from 1031 exchange or whatever, I consider that future "checking account" money that  I will tithe on when rents or sales will become my daily income. 

Properties Needing Repairs: Offer to buy homes that need repairs in exchange for discounted prices or terms that reflect the repair costs.