While we are on the recommendation subject, if you know a great accountant that understands tax law extremely well I would love to hear about them!

@Daniel Garcia, instinct tells me that you wouldn't "need to take into consideration the fact that the down payment is costing me 5.5% plus (loan) closing costs", because, that's already being accounted for as an ongoing expense against the property that you refinanced!

You've got to start by remembering that the requirements to completely defer all tax in a 1031 is to purchase at least as much as you sell and use all of the proceeds in the purchase or purchases.When you sell with owner financing you are actually creating two different proceeds that go into your exchange account - cash from the down payment from the buyer, and a note from the buy for the remainder. 

I have had really bad luck with accounting services and I am looking for an experienced accountant that is familiar with real estate and who also works with legal so I can mesh accounting and asset protection. 

I would agree that Cummins operating as the main power plant for Columbus's employment could be an issue bit you must take into account their community buy in. 

Account Closed what is Subject To?

Since you would be vulnerable to property management schemes as well. 3) With regards to what entity you would need; Ask your accountant.

You can bring the account current by paying off the outstanding balance.If you're looking to do a cash-out refinance in order to pay off your siblings, I'd connect with your attorney and a local lender to ask how you can facilitate this. 

If your only raising rents 3-5% then a small lifestyle change on your tenants part (cable, pets, vices) could likely account for the increase. 

Originally posted by Account Closed:@Aaron Klatt I understand there is potential liability; however, I am not asking for legal advice.