Because a 1031 is only available for a property you are using for investment.Here's the conditions.1.

Or if you have an investor friendly agent they can help identify properties that are in very good condition and link you to a property management company.

Without tenants it's easier to show the property and the condition can look better than if tenants have their stuff everywhere.

This includes, water, hot water, heat, air conditioning, cable, security system, snow removal, lawn care.

As a side note, most of the properties I have been targeting were Neighborhood grade C which are quite old and one of my concerns is that I may need to spend a lot of money on repairs and maintenance.I feel that I would need to wait a little bit more and maybe save more for my down payment and try to target Neighborhoods grade B.I’m trying to do an FHA loan and buy a house in my local market but even when I’m targeting properties between < 600,000 (which would be a 2Bed, 2 Ba in a good condition), my monthly payment would be around 5,000 which is impossible to pay for me.So, it has not been easy and it won’t be but I’ll keep looking until I find one property that meets my requirements and helps me to achieve my goals.

A QOZ is an economically-distressed community where if certain conditions are met, it may result in deferment of capital gains tax for investors.

In Canada you can typically prepay whenever you wish and, provided you do not exceed the annual "prepayment limit" under the conditions of the note, you will suffer no penalty.

If that had been my approach, I would not have arrived in my current financial condition with higher net worth.3.

All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.The bad reputation of “Detroit” comes from OOS investors wanting sub $40,000, D class properties in poor condition, because they pencil out to 2-3% deals on paper.

Keep an eye on local market conditions to find the right deal when the timing is better.