Originally posted by @Lynnette E.

Most co ops with land leases expiring purchased the land at such a high price that it wiped out all equity in the apts.  

You'll have to get each  property appraised, provide leases, evidence of receipt of rental income, and your personal/business asset statements to verify liquidity.

In the meantime over half a year has expired and I have been making payments and providing free rent.

Hi John, bonus depreciation expires in 2022, so you will want to act fast!

Could liquidate both properties and use towards another adventure?

“From a broader market perspective, restricting 1031 exchanges could generate a short-term surge of activity as investors liquidate assets that have significant appreciation and/or deferred taxes,” according to John Chang, senior vice president and national director of research services at real estate firm Marcus & Millichap in an analysis emailed to CoStar.

With that time wasted, my preapproval ended up expiring.

Investment Info:

Single-family residence buy & hold investment in Chattanooga.

Purchase price: $160,000

Cash invested: $70,000

Successfully bought and renovated a single family home in booming Ea...

But in this seller's market, I think its a way to lose everything.2) Most investors that I work with are high net worth and able to cashflow income minus expenses over $30k a year and have over 50K of liquidity on hand.