@Cathryn Sta, overall we accomplished our goal of purchasing 7 homes through a 1031 exchange.  

after fixing it up, at this moment I am just lost of how much tax or do a 1031 exchange if i have another property lined up.

If I just wanted to buy real estate at market value I would just buy into an exchange traded REIT or REIT mutual fund or ETF as a diversified portfolio of REITs should match inflation over the long term and provide increasing dividends.  

I found this while deep-diving the internet one night for potential properties for our 1031 exchange.

A common mistake investors make is associate "motivation" with money.Motivation doesn't have anything to do with "getting more money" for their house.Motivation could be speed of cash received, not the quantity of cash received.We buy houses all the time from home owners where the house is in great shape...Maybe the buyer just needs to close fast and is willing to accept a lower offer for that convenience.About 70% of my leads are people that just don't want to deal with agents, or the uncertainty of getting their house sold, and are willing to accept a cash discounted offer in exchange for a guaranteed sale.Just an fyi 

It is used mostly when a large investor or a small group of large investors wants to do 1031 exchange from the properties that they sold.

Security deposit amountYou can find plenty of examples by searching for "tenant estoppel certificate doc" or exchange "doc" with "pdf" for more options.Here is an example and explanation: Sample EstoppelSome have a lot of legal jargon but this document does not need to be so detailed.

Used a 1031 exchange to purchase this one.

The balloon will be taxed, but taxed at a lower rate and can then be deployed wherever makes sense, including internationally (not an option with a 1031 exchange alone).

But that could cause issues with the owner carry.There is a way for him to both do a 1031 exchange and turn the note into a tax free note.