Sell the house you are in now and take that money tax free (if you've lived in it for 2 out of the last 5 years.2.

They would get that $500K tax free and the rest of the tax would be deferred in the 1031.A very elegant solution that puts $500K tax free in their hands now. 

. - I was in a VERY similar situation here in Chicago, but I had less experience working on my own than you.I had a piece of land that I owned free and clear, but since I didn't have any development experience, most of the banks wouldn't talk to me. 

But I understand where I’m at now, and am willing to work for free until I can provide such value.A little about me.

However, the current market environment with relatively very high interest rates (7.37x increase of the 10-year treasury in 40 months from 2020-2024), and the slow recovery coming out of the Pandemic for the city make this a great opportunity to do just that, with many positive market factors on the horizon.In my opinion, right now is a great time to purchase a value add multifamily asset at an attractive basis, refinance in the coming years as we are now moving into a falling rate environment, receiving your tax-free refinance proceeds from the forced appreciation coming from renovations, the spike in market rent growth, lower vacancy, and compressing cap rates during the stabilization period, The macro factors for the DC Metro and for multifamily overall should contribute to a multifamily asset in the area being a safe and lucrative long-term investment as well.Other Notable Developments in the D.C.

OR feel free to PM and we can talk. 

Feel free to message me directly! 

Feel free to message me.

I provided a free rent back for 2 weeks so the seller could get her funds and relocate.

Usually best to use free/cheap money.