If you have a property meant for a family (3 bdrms and up) good luck filling it during the winter.

It's obviously meant to be that you didn't go work for GC.

Point is, you need to have a solid exit plan because hard money loans are NOT meant to be long term loans.Since you mentioned "building up your portfolio", I'm just going to guess that you're interested in acquiring rentals. 

Since I had to work today, that meant my husband had to spend two hours keeping kids occupied in our minivan while the man did all of the repair work. 

However, you should be careful with how soon you move into the property after completing the exchange; otherwise, you risk invalidating the exchange.A 1031 is deferring the taxes - not eliminating them (putting aside proper estate planning and you holding the property until you die).Accurately working through these types of scenarios can be tricky because of all the moving parts - ie, recapturing depreciation, adjusting the cost basis, whether you owned the property prior to 2009, etc.However, if we generalize this and ignore the tricky parts for the time being, you could have this scenario play out like this:- buy property A in 2010 for $500k- sell property A in 2020 for $1M and exchange into property B (deferring $500k of profit)- rent property B for 1 yr and then move into it as primary residence- sell property B for $1.5M in 2030 (another $500k of profit)To figure out your taxes, you'd be looking at:- a total of $1M in capital gains ($500k from sale of prop A and $500k from sale of prop B)- you owned props A and B for a total of 20 yrs - 9 of which were as your primary residence (45%)- this limits your potential primary residence exclusion to $450k ($1M x .45)- since you're married filing jointly, you can exclude the entire $450k (but not the max of $500k)- the remaining $550k would be treated as long term cap gainsAgain, this is very generalized and not meant to be an accurate calculation, but hopefully gives you an idea of how the numbers might work out.Best advice any of us can give you here = consult with your tax professional :)Good luck,- Brian

., I meant "whoever" the appropriate authority was. 

This is exactly what this post was meant to bring out? 

This usually results in the claim reps getting involved and the insurance carrier incurring a good amount of cost to discover if the claim is legitimate or not.Medical payments is meant for a low cost way to handle small claims.Hope that helps.

So I intend to simply submit the offers without one, and let the seller's broker figure things out (a proper broker, I imagine would leave the 3% that was meant for the buyer's broker to the seller). 

I thought you meant mobile like mobile homes in the subject line.