Any other strategies for using 1031 money in this situation or is it only for purchase of a new rental property?

I have a 90-day option to market a property, but Zillow is requiring that I provide a valid listing agreement showing that I "have exclusive permission from the owner to list the property.

In short, Freddie Mac & Fannie Mae offer 70-80% LTV, 1.20-1.25x DCR, 30-year amortization, 5-30 year term, partial-full term IO, non-recourse permanent financing for owners of multifamily apartment buildings throughout the United States.

There are lots of experienced property owners, lenders, real estate agents, attorneys, tax experts and more here so don't be shy to ask questions and I'm sure an expert in that field will be able to help.

Ive started a mail campaign with properties in my local area( Providence County).

Am buying a 5 unit property for 400k and I'll need about 100k to close and then 100k to renovate.

It's a great place to find properties that meet the 1% rule.

Value of the property and the terms agreed upon between the parties

Do you also work with a property management company?  

One "bargain" cost me $30,000 in hidden repairs - don't repeat my mistakes.Build your team early: a realtor, inspector, contractor, accountant, and maybe a property manager.