Once the moratorium is lifted (and rent still has not been paid), then I can post a Notice to Vacate and proceed with filing an eviction. 

That’s another reason to hold off on an offer, since there's no proof of cash to close yet.As for the HELOC funds, I'd proceed cautiously with borrowing from other sources if you’re not yet certain the loan will close, and I’d double-check if your application has been officially approved. 

Here’s how you can leverage it:Upgrade Your Property While Deferring Taxes: By using a 1031 exchange, you can sell a current property and reinvest the proceeds into a larger or better-located multi-family unit.

They should have at least communicated with you when they realized the costs were ballooning well above a normal sewer line repair cost, before proceeding with that work.

@Brett Jurgens No one (certainly not I) is bashing your concept here.

As long as you can meet the guidelines to get 75%CLTV and have enough equity then you can proceed.

Proceeds when sold would be split in the same ratio.The math for them was:Rent for the next 5 years: $228,000Equity gained: $0Mortgage payments for 5 years: $219,000Equity gained: $185,000^assuming a modest 3% annual appreciation Getting started will take you further than waiting for the *ideal* property.

So proceed with caution and diligence.

Either way, if they don't pay it they are delinquent on rent and you proceed to evict for nonpayment of rent.

Do you want to sell the current property, if so and you'll buy a new property with the proceeds than a 1031 will make sense. 2.