This may make them look at your refi or subsequent purchase loan more favorably.The other bugaboo is going to be the timing of the 1031.

So while you will defer federal tax and depreciation recapture you will not get the deferral from gain and subsequent tax due to the state in your case.

Chris, I am self-managing but I could offer you a few guys that I personally know:Ron Parasole with Parasole Properties, Phil Kolatis with Kolatis Enterprises, and @Marc Winter with Landmark Property Management.

I think you need to separate in your mind the note purchase and any potential subsequent modification. 

I have heard of few troubling stories of bad tenants or bad neighbors snitching on the landlord for one reason or another and the stove is subsequently taken away and the kitchen ripped out. 

I live in the Seattle region, which is just too darn expensive for such an enterprise, so I am mostly considering Houston at present.  

I hope to increase budget for subsequent deals.I prefer to avoid a ridiculous commute, so Valley areas are not ideal for me, but Inglewood, Hawthorne, Carson and Long Beach are definitely viable options in terms of location - thanks for the suggestion @eric dowling !

The income the tenant paid me is technically their money, so they're also paying for my down payments and subsequent returns on both income and equity at no cost to me personally.No one is saying to never deleverage.  

As the web grew enterprising 3rd party providers saw a great business niche and the development of IDX grew.

Interesting post, Jeff.However, if no one bids on the courthouse steps (not uncommon here), and the bank subsequently lists with a brokerage, then the bank can keep any surplus from the brokered sale (or eat any loss), correct?