What price do you put on improving people's lives?

It took me straight there so couldn't copy the link to post here.Make sure you're  not doing a residential or improved property PSA.

For the property . you sold you'll need the Date of acquisition, basis, capital improvements, and depreciation schedule to determine your adjusted cost basis. 

Once complete that property would now be worth the price of acquisition plus the improvements so all of the original house, land, and new house could qualify for the 1031 exchange.

I will also indicate that due to this additional cost that we are going to have to defer  some improvements  due to this expense.

In PA, they CAN reassess if you do over $2500 of improvements in a year.

Something to consider, if you do not plan on making any improvements to the property prior to your refinancing, the equity you think you may have may not be there.

That way for little money, you can greatly improve the curb appeal of the house and justify raising rents on the property, adding more to your income.Let me know if you have any more questions

I'm sure you appreciate that he's taking good care of the house and doing small improvements, but as you said your costs are going up and you shouldn't be expected to supplement his living there.  

It all depends on location and quality of the golf course.One of the great aspects of a golf course in terms of depreciation, is that a very large portion (sometimes up to 60-80%) is actually land improvements, which depreciate over 15 years as opposed to 39 years.