The acronym for MLO get's throw around in many cases incorrectly for that.

Hello, I am going to complete a 1031 exchange for the first time.I recall that I read in a book that most people do not understand the boot rule correctly, and many 1031 QI's implement it incorrectly.

Odds are that he was just incorrect in his first appraisal like you stated, but he may have had new/better data in the second appraisal that just didn't support the original number.In many cases, a contract price is the best indicator of value, assuming the agreement meets the definition of that type of value.

I explained that they were tracking it incorrectly and after several more emails they agreed.

I of course do not know your level of familiarity with PA Real Estate law so I could be incorrect

Paul, Williams math above on the mortgage payment was incorrect. $100k mortgage (80% of 125k purchase) at 3.83% for 30 years is $467.67 monthly PI, not $383.

Note that you've double dipped on your down payment and incorrectly reduced your return.

You can have 100 properties in one LLC, it is not the number of properties that should be the determining factor but the amount of equity exposure you are willing to "risk".when I talk to real investors, they suggest determining a set number of properties or property worth and then once that LLC is full, open another one.Again, the set number of properties is incorrect, as is a set amount of worth.

@Peter Walther Your statements are grossly incorrect.

I hope the interview was several years old because the information was outdated, wrong, incorrect and in many cases flat out misleading.