I have heard stories similar to this and presupposed a lot about the guy without simplifying his base motive-- which you did.  

This LOC can be usedFor anything you desire and would simplify your situation.I use my LOC to fund my rehabs and pay it off after the flip or refinance and start all over again on the next property.

@Onaje Barnes @p@Peter Nikic @Michael LeThank you for simplifying Cap rates and how it's applied.

I'm not planning on living in any of the units, that would somewhat simplify things. 

You made about $2,200 in profit, but as far as the IRS is concerned you LOST money and that loss offsets other income that is in your pocket.This is a simplified example. 

After 6 months of him being on time, I sent him a $50 gift card thanking him for helping to simplify our rent collection.

It would be worth having a conversation with Chris Moshier at Simplified Insurance,  (248) 996-8904. 

If I had to guess, the culprit was over simplifying the idea that X number of payments means a higher bid for the loan.

In this case, as there are only 2 people involved, it is simplified but you still have to consider what I call the 4 basics: Estate, Tax Efficiency, Liability and Capital Gains.

I am actually as equally worried about my money in escrow by Quickie1031.com as I am about spending the money and not finding a replacement.Hi Marian, Unfortunately, you are vastly over simplifying the requirements.