@Kezia Edmonson, it's all about the valuations as @Jon Taylor mentioned.In your 1031 exchange you must purchase at least as much investment property as you sold in order to defer all tax. 

Quote from @Trent Reeve: Quote from @Bruce Woodruff: Quote from @Issa Joseph: I DIDNT GET IT LOL for now my business plan doesn't support this purchase but an extra 10k per unit per year profit is significant growth in revenue But ask yourself - how much of this $10k increase (remember alleged) could you gain yourself by doing research and asking questions on this forum.......? 

There's a ton to learn and no better place to do it.

Is it too much of a hurdle for the Local, Esq. to review the local law? 

Also, would getting a HELOC so soon after be do-able?

Do you have any experience in REI? 

It sounds like you’re taking all the right steps to set yourself up for success.

Purchase price: $118,000 Cash invested: $118,000 Tried to buy a place during the pandemic in NY but was getting outbid like crazy over 100k, so I was lucky enough to buy a condo in tulum mexico and do a short term rental. 1 bed, 1 bath, with community pol, 15 minutes away from the beach and 15 minutes away from the city.

I've been doing a moderate level of research around the housing industry and I am very excited and eager to jump in.

The person checking the unit just said needs replacing so we did but it did not solve the issue. $6000 repair.