I am guessing that your particular situation merely involves a sale of property and then a subsequent purchase of property, which will not qualify for 1031 Exchange treatment.Your tax advisor would likely be putting his or her license on the line by trying to report this as a 1031 Exchange transaction, unless any of the appropriate documentation was put in place.

She put in her resignation today but may still work for a while.  

What I do when banks say noI look for another lending institutionthere are many ways to make a deal happen and for you to get your money back outremember when the bank says you have to get the money from a family member there is a little clause they aren't telling you about it is calledseasoningthat means the money you put in the bank has to season or sit in there institution for a number of monthsthis can really make a mess out of a dealthe numbers look good I would look for another avenue to wrap up the dealenjoy

In October I purchased a rental property and put in about $10-12k in repairs.

And based on your 20% CCR, you put in about $25,000 to $30,000 of your own cash?

(Tennessee) I ask because recently I put in an offer on a house in my subdivision and the folks were selling because their house in Spring hill was getting close to being finished.I was curious and started talking to them about their experience.

If something were to happen and you put in a claim, (only do so if you REALLY need to) the 2500 would just be subtracted from the payout.

All utilities can be put in the tenants name.  

Be careful, some people will try and put in a pool or trampoline for the kids, and your insurance wont insure for that.bottom line, include lawn care, and make sure your vendor tells you whats going on

If you put in an additional $40k, the home will be worth $320k so that is what you decide to do (remember you could borrow the additional $40k in fix up too if you give some interest to your lender, family member, etc.).