(1) The replacement property value must equal or exceed the value of the relinquished property, and, (2) all of exchange proceeds must be reinvested in the replacement property acquisition.There is no requirement to have any debt on the replacement property.

Make sure your deposits and fees are equal to you competition.

The "value" to be shown to clearly represent an accurate picture of the financial position is what you paid for something and adding in the costs of improving the asset, not what you think you might get if the right person came along, in an open market environmet, with the buyer and seller having equal knowledge of the asset, where both parties dealt in good faith.....etc, etc. etc. fair market falue is nothing more than an opinion until it actually sells.

i get it now bryan..sorry, thought you were going somewhere else with this thread..i didn't realize most bankers consider income from different loan products differently...like i said earlier, my banker considers rental income and debts equally across all loan products

You can't just charge anything you want in some states.The trouble with having a deposit equal to a month's rent is that the tenant will often want to use it as the "last month's rent" instead of it being for a deposit.

I am just saying that all strategies are not going to be equally profitable for all people and someone who is starting out in business should focus on the one thing that works best for him.

I belief is that when you get away from the formula is when you run into trouble.

I would tear it out and replace with sheetrock if it were in any main living spaces (living room, dining room, bedrooms, etc).But, that said, I'm often told that I do more than necessary, and I have a feeling that if you asked my wife, she'd say that in an $80K house, as long as it was nicer than the competition at an equal or lesser price, just leave it.The question is, based on your competition, will removing the paneling significantly help you sell your property?

I treated them all equally and asked they fill out an application which would be reviewed using the same criteria as everyone else.

Net was 10k which equals the same scenario with a lot more headaches/hours/equiptment etc.