@Ricky Sanchez One of the requirements of doing a 1031 exchange is that the tax-payer for the relinquished property has to be the same for your replacement property.

It sounds like your current bank might be hesitant to provide a loan for the next property until you can prove that the current property provides enough income to support your overall DTI (Debt to Income Ratio).

This is messy, but try to bear with me:I have two Stessa Accounts: one for my personal properties(account "S1") and another for properties held in a partnership (account "S2"). 

Quote from @Joseph Bui: Hi Nishil, I don't have any Indy rental properties but I know a few investors there I can connect you with.

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

Quote from @Tomasz Kaminski: @Chris SeveneyHow do you consider property value if you cannot go inside to evaluate the interior condition?

Property will be held in LLC.

I understand Philadelphia requires a local property manager. 

Hi Shea,It is a residential property and, yes, my strategy is buy and hold.

•If insurance costs are reasonable and the property is in a high-demand area, this could be a hidden opportunity because many investors automatically pass on flood-zone properties without digging deeper.