@Scott Pillsbury your purchase contract should have a "Third Party Financing Addendum" that states your time period to get approved.  

The notice says this (along with a bunch of other stuff):NOW, THEREFORE, in consideration of Ten and No/100 Dollars ($10.00) and other good andvaluable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties herebyagree as follows:My question is....I was never paid $10, but I signed the contract.

This whole ESA thing is bogus though (in large part). I

All parties being happy Lessons learned?

Unless the contract is assignable the other party could object.Also all parties have to be notified to the exchange. 

There were multiple children who inherited the property from their parents and by purchasing, I offered a way out for all parties to have their hands clean.

@Alex Ramirez, There is nothing statutorily against buying your replacement property from a related party. 

@david @David Brent thanks David, I do googled this topic before posting here as u said there is no clear answer even on those articles. but now i'm getting little bit of sense on this topic. anyway for CRE prices are in direct relation with NOI so debt will be considered as second part i Guess that still kind of have Impact and No impact on Property Values based on supply and Demand and future Economic factors not just the Interest rates

While some may question the decision to hold the property instead of selling it to a third-party and rolling the cash into inherited IRAs, we are committed to continuing to own all of the properties for the long-term. 

Flipping could take 1-2 years to have a track record and build a good nest egg, hardest part is starting and it's relying on the market condition.