I reported to active duty in the United States Marine Corps in October of 2011 and committed to paying off both loans with the rents and my paycheck—I did so within two years.When I bought the property, it was gutted of all metal, electrical wires, plumbing, appliances and fixtures.

Here are some questions I would want to know before committing to a 1031 exchange:What personal property do I own in the real estate asset?

Dealing with a buyer with all the cash necessary to purchase means they won't be calling you two days before the closing to say their financing fell through and they can no longer buy.Just in the last 30 days, I've spoken with three different investors who were informed within days of closing that their lender was either withdrawing their financing commitment or radically worsening the terms (unless a sizable fee was paid to them).Not the buyers fault, perhaps, but that fact doesn't help our seller, who still doesn't get their sale.

Good to hear that you are committed to REI!

Well, I thought I could build a Real Estate business while teaching but my particular position took 60 to 80 hours a week to do, so not much success in doing Real Estate on the side. At the end of this year I decided ...

So, for someone who wants to hang their license with a company but doesn't want to commit to the education to minimize the BIC's exposure....it doesn't seem like a great arrangement for the BIC if he doesn't know the person.

So don't commit unless you have the financials to support it.Even though the deal will financially support itself, banks want to see a track record of performance before they allow rental income deals to stand on their own.

Also, if you like the agent, think about what you could do to show your level of interest and commitment.

Large national bank's don't lend on parks, not because they don't like MHPs, but simply because the niche is so narrow they don't commit the bandwidth to the asset class. 

The changes were slow at first and then accelerated when I committed to taking daily actions toward my goals.