It is also possible to structure an Improvement 1031 Exchange whereby your Qualified Intermediary (exchange company) acquires and holds or "parks" legal title to your new replacement property so that you have the rest of your 180 calendar day exchange period to use any remaining funds in your 1031 Exchange to complete improvements as part of your 1031 Exchange. 

All of these details add up to improve the bottom line. 

Having said that, there is a loan program/approval process that can improve your chances that I just learned about yesterday.

Trying to navigate BP for useful tools/calculators while I improve my own accounting. 

The biggest improvement in terms of cash flow was adding the storage units on the "free" parcels this property came with.

It was lacking in several areas, & we sent it back to the lender's lawyers to improve it, but for some reason, they said "No."

It might be a 1031 to stay in real estate but defer the tax and improve your situation.Since you're considering both properties here's a little thought:  why not sell the rental and 1031 into a really nice investment property that you may want to live in one day. 

That would be much better for her than selling it and improving her own life.

I kept borrowing from my portfolio, hoping that my bet would improve.

I found that the data from the source was so-so, and going through improving it was worth the effort, at least based on the amount of correction it required.