At closing there is no difference from a traditional sale/purchase.

If you want to defer all tax on the 1031 you must purchase at least as much as your net sale. 

Purchase price: $555,000 Purchased a property on 1 acre in Black Mountain, NC .

. $425k) to purchase a 12-unit Apartment ($1.5M) with 25% down ($375k from the HELOC).The remaining $50k from the HELOC could go into fixing/rehab of the 12-units.Then cash-refinance the larger amount from the 12-units to pay off the HELOC in one lump-sum (as much as possible), then using the cash flow from the apartment to pay off the rest of the HELOC.Repeat the process with a new apartment.1) Does this make sense? 

> I purchased property from HOA foreclosure auction last year for 40k, not realizing first mortgage cloud (silly, I know).

Am I tracking that your strategy was using a HELOC from your primary residence to fund "cash" purchases on your first two properties?  

I came across a property that is magnificent but I lack the finances to purchase it out right.

Just started the research phase and learn everything I can about this process before I make my first purchase. 

Hello BP,I need some advice on what is the worst investment I've ever made.Overview:- Purchased a condo in 2022 for $270k, with a 3% down payment.

Hi BiggerPockets Forum,      I am looking at purchasing my first rental property.