A 1031 is for "like-kind" property so investment for investment.

What I am getting is that this is kind of a sh*tty situation, but that's the way these agreements and contingencies work unfortunately.I'll talk more with my attorney and agent and post how this ends up panning out.

No billboard company is going to sign a lease with a 30-day cancellation clause and incur that kind of expense.

Would making a LLC make sense for this kind of situation or would it need to be something else to buy real estate through.

I'm going to start a thread . . . we'll also put together some kind of depository of documents ASAP.Check out the current (temporary) file sharing thread at:http://forums.biggerpockets.com/viewtopic.php?

And, I also suspect, as a birddog, you don't have a clue concerning getting paid and violations of law as most birddogs don't.So, the best thing for you to do might be to start reading here, read all kinds of threads, not just what you think you want to hear and begin with more current threads as laws have changed.

Tim,What kind of dog are you holding in your picture.

This kind of leverage is not for the faint of heart, but if you're in it to win it, you have to play big.

I kind of like renting at this point since it is so cheap and allows me to relocate easily if possible (I do not have kids).

Be a wholesaler who has specialized knowledge in the benefits of one type of investment property and has an inventory or source for this kind of proprty and can move it quickly.