In my own case I have the cash; but the re-fi is the 'proof', so I am thinking of doing the re-fi anyway (and paying it off early) it is an important step to demonstrating what a lender thinks of what has been done for the value of the property.

But most of the time, these types of posts are really backdoor attempts to demonstrate how leverage people are "wrong" and cash people are "right".

As described in Revenue Procedure 2014-4, an entity applying for nonbank trustee or custodial powers must submit a written application to the IRS that demonstrates how the applicant intends to comply with the requirements of Treas.

The feelings associated with market peaks and troughs are something that data can demonstrate, as I was trying to do, but only experience can teach.

The key is that you would need to demonstrate to an auditor that your father had the intent to hold should he be audited.  

This could be any situation where because you had some form of asset protection, whether a legal entity, adequate insurance, or something else, the outcome for you was better than it could have been.I am NOT interested in how your asset protection is configured unless you can demonstrably say you have used it. 

If you've got some other documentation to demonstrate your intent (conversations with professionals, a rental listing, past history etc) again, time for a chat with your cpa for their okey dokey.   

So the property owner would be compensate 300K in actual cash....if you'll notice our client would have been out of pocket for 200K after getting their payment and then paying for the re-design and the reconstruction needed.I tell you that to say that our client's attorney argued the point, provided case law, and (I believe) had their own appraisal to demonstrate a value that was more in line with what they considered fair.

But you must be able to demonstrate your intent.So in your case selling a portfolio of rentals to buy one really juiced beautiful property to hold as a rental is fine for 1031. 

On to something that’s actually important like reading about yesterday’s demonstrations of athleticism in the NCAA tourney.