Sign Listing Agreement to sell relinquished property.Sign Agreement of Sale with Buyer.Retain 1031 CORP. as your Qualified Intermediary (QI).1031 CORP. prepares documents and provides closing/escrow officer with instructions.Closing takes place and proceeds are forwarded to 1031 CORP. and placed into exchange deposit account.The 45-Day Identification Period and 180-Exchange Period begin.Identify replacement properties to 1031 CORP.Sign Agreement of Sale for new property and use exchange proceeds for deposit.QI provides closing/escrow officer with instructions and transfers exchange funds.Replacement property is acquired and exchange completed.

I'm looking for a General Contractor who is willing to walk properties (I realize there may be a fee), provide a decent estimate of costs, and ultimately perform/coordinate most of the rehab work.

Real estate typically held in LLCs since they have relatively strong asset protection, ease of transferability, and default to flow-through status for tax purposes, which can be more favorable for real estate investing.Corporations, have ease of transferability, but taxation is generally less favorable.

As for re-drafting and signing a new lease in its entirety I believe the original lease which was transferred over at closing to my corp name should hold up well if we simply sign a new extension. ( I guess i can check with my attorney). 

@David FlandersWhat you seek is not really achievable within the framework of the IRS rules.If the IRA purchases the property, then a non-recourse loan must be used.Once purchased with the IRA, a property may not be transferred to you or an entity you control, so that you can then arrange for debt-financing in your own name.Your only option would be to find a private lender willing to lend to the IRA at a more aggressive set of terms than a bank.  

Obviously you will be offering less than asking to begin.I would not purchase unless the plan is to transfer all utilities to tenants.

Hello BP Community, I've read enough great opinions on REI strategies here in the Texas forum to fill the Library of Congress. Y'all are truly the best.This is a "Put Yourself in my Shoes" post... Imagine you're new t...

I have a question about transferring a lease from a property manager to myself.

I have a question about transferring a lease from a property manager to myself.

But still account for PM as 2-5 years from now when you have multiple properties you will at some point have to transfer your responsibilities to property management.