I’m thinking of starting my 2nd 1031 as I move away from these cheaper/smaller houses. 

@Diana Jing @Edward DawsonThank you for the feedback and discussion.Ed, I'm glad we were able to easily navigate your 1031 exchange and move you into some excellent cash flowing properties to increase your passive income! 

Banks and credit unions can also offer flexibility for investors that engage in strong relationship-building strategies, offering discounts and solid loans in exchange for borrowers willing to use the institution for other purposes (savings accounts, etc.).

Just make sure they won’t place a lien on your company.Equity Partner: Consider bringing in an equity partner to help with the $300K down payment in exchange for a share of the property.Renegotiate Terms: Try to renegotiate the closing date or lower the down payment amount.

Learn creative ways to cash flow that work for you AND also create a win for the Seller.CREATIVITY HACKOne cool way is to offer a seller more than they are asking in exchange for a lower interest rate or offer a much higher price for a zero % interest rate for 3-5 years. 

What was the 1031 aspect of this? 

And if they are, and you have not sold your property interest, explore common strategies like 1031 exchanges.

Examples of common objections include needing to discuss with a spouse, feeling it's not the right time, uncertainty about the location, or having funds tied up in other investments like a 401K, 1031 exchange, or the stock market.

There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

("A real estate broker, for the purposes of this article, is defined to be a person, firm or corporation who, for a fee, commission or other valuable consideration, or by reason of a promise or reasonable expectation thereof, lists for sale, sells, exchanges, buys or rents, or offers or attempts to negotiate a sale, exchange, purchase or rental of real estate or an interest therein, or collects or offers or attempts to collect rent for the use of real estate or solicits for prospective purchasers or assists or directs in the procuring of prospects or the negotiation or closing of any transaction which does or is contemplated to result in the sale, exchange, leasing, renting or auctions of any real estate . . ."