The reinvestment requirements of the 1031 exchange are still in force - you must purchase at least as much as you sell (that is the 85K) and you must use all of the proceeds in the purchase (that is the 85K of cash proceeds).So you will purchase the property from the intermediary using $85K of exchange proceeds and then either bringing a new loan for the remainder, assuming the balance of the loan currently on it (from the family member), or simply bringing cash of your own to the closing.Your intermediary will sell the property to you (or hopefully if they're thinking about it they will assign you the membership interest in the single member LLC so  you avoid a second closing and transfer tax and you get a free LLC out of the deal) and pay off the mortgage they had to make to the family member.You cannot accept cash from the closing of your sale without incurring a tax event.

Your income has to cover that, plus any maintenance to the machines, as well as your time to collect the money.For a single pair of machines, a speedqueen could cost $1000 per unit or $2000.

Or even a single family home.

Plus almost no bank I know of in Baltimore is going to do a single loan on a single property.  

Just purchased a single family home complete renovated in Austin, TX (East Austin) and I'm having a hard time finding renters because of the "area".

On the property are 3 trailer properties two single wides, one newer double wide.

I have a $240k single-fam rental and am selling as we speak.  

Additionally, the properties are all over (two-flat in a suburb of Chicago, a duplex in Austin, TX, a single family home in Ruston, LA and another single family outside of New Orleans.  

These would be buy and hold rentals (predominantly single family - mixture of 2 & 3 bedroom homes) so i'm not looking for the ability to flip or on-sell, really just to hold for rental income longer term.Many thanks for your help Rudi 

I'm traveling from Boise Idaho starting this morning (5 day trip).If you have or can help me find a single family rental in Austin (move in ready) or know someone who does...I'm looking for a 3 bed 1 or 1.5 bath with:modern kitchen appliances/fixtures throughoutfenced backyard for dogspreferably a fireplace, but not a deal breakerup to $1900 a monthno HOAAlso, looking to make connections in real estate investing there in Austin.