As we sell a "lot", the cash is transferred directly to the Bank, since they have a lien on the property. 

They will probably want as much allocation into FF&E (furniture, fixtures, and equipement - the non-1031able parts) so they get quicker depreciation. 

@Daniel MolinaThe 10% number was a ballpark for realtors/transfer tax/title insurance, etc.

Schedule E allows all re investors to write off business expenses.

@Christopher SmithI would be transferring money from Canada to the US.

doesn't get much easier then cashap/zelle/online etc....maybe a direct bank transfer via ACH? 

All you do with a HELOC is transfer debt from one loan to another.

Some cost that may vary based on location will be your environmental impact study, your list of cost from the Architect may see a lower cost for the schematics on a smaller project, with similar footprints for all four units, versus varying unit size, and scope requirements (less work, lower cost for A&E), the feasibility study, proforma, 3-D renderings, and other associated cost are going to depend on where this project is going to be built. 

I was told by our local HUD representative that we would have to fill out a HUD form 2530 and go through the Transfer of Physical Assets (TPA) process to complete the purchase of this property, even though we are not going to purchase this property with a HUD backed loan.

The 3 years waiting period begins from THE DATE OF TRANSFER OF TITLE.Foreclosure: 3 years from the date of transfer of title.