Both are totally paid off and Im looking to do a simultaneous like kind exchange for a property in a ski town in Colorado.  

He mentioned to me that when getting the 2 - unit the total mortgage payment cannot exceed more than 20% of what my current rent is as I am renting an apartment.

Purchase Price 175000 Currently Value   186000 Equity   45600     Mortgage, Insurance, Taxes   1165 HOA   120 Maintenance 10% 145 Vacancies 10% 145 Management 7% 100 Tenant Placement 8% 121 Total Costs   1796 Rent Price   1450 Equity   200     Monthly Cash Flow -346 Yearly Cash Flow -4150     Monthly Cash + Equity -146 Yearly Cash + Equity -1750Thanks for all comments in advance! 

These are the numbers from the mortgage company:Closing Costs: $8,679.11 (half of this is lender points for a lower interest rate)Prepaid/Escrows: $2,211.79Payoff: $130,189 (this is the loan I took out to purchase the home initially before renovating, I put down $23,025 which was 15%)Total funds to Close: $141,079.90Loan amount (75% LTV based on $240,000 appraisal): $180,000Total Due at closing: $38,920.10Help!

I deeply appreciate any feedback as this totally new for me - I’m just trying to quick build something to scape the rental trap I’m in .

If you feel the need, just increase total deposit and note on your screening standards that smokers must have higher security deposit.

You are obviously a valued tenant of theirs.

I’ve obviously never thought about it like that!

Different areas will have different rates obviously, but I pay about $1800 a year for insurance on my $85,000 duplex in LA.I wouldn't estimate any less than 10% vacancy, because you only have 2 units paying the bills.  

And, obviously, to buy a replacement property, you'd need to have some liquidity available.