You just have to show intent to hold for rental/investment (as opposed to held for sale like rehabs/flips). 

Our broker has the info but he says he can't give it to us bc it's unethical to go around the seller's agent and he has to wait until she gets back to him and update him on HOA meeting with their lawyer that meeting was held a week ago.

wayne, you are wrong. check with the obama adminstrations ruling in 2009. they put a limit on the number of houses a bank can release to market in 2009 because the flood of foreclosures hitting the market was killing the housing market. and micheal has an excellent idea with contacting the owner, but here is another idea. the last step in foreclosure for a bank is to have a foreclosure/ trustee auction. usually held right at the county court house. sometimes called a sheriffs sale. you can go to this auction and bid against the bank on any house. in most cases the bank wins, but not always. you could get a decent house for a decent price if you want to outbid the bank. they are only going to bid just so high. 

Everything is good on my end, but at the last minute the seller calls and says one of them - the home is held jointly- is out of town.  

I was wasting time, I held open houses for others, I sat at the front desk taking phone calls, and my fail was follow through.

@Cogit Aretoo I just realized that my server held up my response and it just posted.  

I have rented to attorneys and they generally try to do things right knowing their reputation is on the line and they don't want to be on that side of the table befor a judge (he will be held to a higher standard).  

There are some guidelines to follow in order for "vacation property" to qualify in an exchange as replacement property:According to Revenue Procedure 2008-16 - The purchase of a vacation property or a second home will qualify as replacement property in a tax-deferred exchange transaction if the following safe harbor requirements are met: The subject property is owned and held by the investor for at least 24 months immediately following the 1031 Exchange ("qualifying use period"); andThe subject property was rented at fair market rental rates to other people for at least 14 days (or more) during each of the following two (2) years; andThe investor limits his or her personal use and enjoyment of the property to not more than 14 days during each of the following two (2) years, or ten percent (10%) of the number of days that the subject property was actually rented out to other people during each of the following two (2) years. 

Many of our clients will use one of those spots for a place holder - a property that might be held by a friendly party who would be willing to sell in a pinch.  

For instance, at the recently concluded FUNDING Summit that was held last June, I revealed a strategy how I can buy (and fix) a house for 80% of the after-repair value and yet I can make MORE money than the typical fix-n-flip investor (or rehabber) even though they have to buy (and fix) the property at no more than 65% of the after-repair value.