Hello,If you have 2 properties cross collateralized with 1 lender and you sell 1 of the properties can you roll the equity to the other property with out taking a pay out of taxable profit/income?

Just make sure you have all your other T's crossed and I's dotted.  

Received a $1M offer on a 16 unit building that I purchased back in March - leaving me with a nice profit.However, I am expecting 30% in short term capital gains between the state and federal and a prepayment penalty of $6000.00.Thus, unless I can 1031 into another deal...this transaction may be tough to put together.Any ideas on how I should source deals and find a way to defer my taxes?

I agree with Mitchell.. a good Title Company can make the transaction run so much smoother.

And yes, mentorship that come with percentages from your transactions, etc. 

Louis, MO (this is a long-distance transaction) that we intend to purchase as a buy and hold.

@Sharron StJohn What I’ve done, in FL1) “Disclosure: Buyer’s agent has an ownership interest in, and is a member in, “Arizona LLC”, the Buyer, as well as representing “Arizona LLC” as the buyer’s agent in this transaction”.If the other members are not licensed CA agents/brokers, I don’t see any need in disclosing anything about them....that would be according to CA law.2) this language just looks like disclosure you may flip the contract, which I’m not sure if that is your intent or not.

BUT, when you go to get a loan on a new property you may get push back if they see you are cross-collateralizing.

I think I'm going to go the Sub2 route and get the transaction done by year-end. 

There are a couple of other identification rules you can use to identify more properties depending on the size of the transaction and the value of the identified properties.