Like-kind property is property of the same nature, character or class.

Your credit would be smoked for 7 years and you couldn’t apply for a loan for 2.

My current dilemma is deciding if I should get licensed in Maryland or DC first -g ranted I will ultimately apply for a reciprocal license.

Once I get that, I'll apply for the HELOC which I'll use for down payment on a second home.

So, I'm still really new here and I'm putting in an offer on an REO through a wholesaler.I know there is a right of redemption on foreclosures in Kansas (12 months), but does that apply to an REO, or once the property passes to another buyer (me... or the party that I eventually sell to), does that right of redemption go away?

Never a guarantee, and see how #1 applies here too.3 - 3 co-investors, all making negative cash flow, all banking on a future event they all have no control over. 

If however the payment does not go through then a late fee is applied.

Frequently the REI/consumer applies to 3 or 5 different HELOC lenders before a credit line is actually opened -- the better rate HELOC has higher standards, so REI/consumers go through this time-exhaustive exercise of getting denied a bunch because the 4 best rate HELOC lenders denied them, it's not until the 5th that it's approved and open.

That's just not in my nature.

AS for your property just out of curiosity did any of the following apply or get addressed?