If someone buys a brand new product built in the last 5 years states away in a high end area with affluent type tenants then it might work.Marginal areas with older buildings and challenging tenant base it does not.

@Nick YanutolaBecause mortgage interest is of a lower percentage cost than the opportunity value of cash it is counter productive to have equity lying dead in a property.

I think you can find a CD player for like $20 nowadays, cheaper if you buy off Craigslist.

The BP forums and podcasts have been a wealth of information and knowledge and I look forward to becoming a valued and productive member of the site. 

@Jahan Habib Hard money is a short term loan product.

The one criteria that makes your property eligible for a 1031 exchange is that it is property that you purchased with the intent to ...hold for productive use in business trade or for investment.  

That would be a lot easier to install as a DIY guy so if you have the money to purchase new product maybe that's the way to go?

I know of 1 bank in Atlanta that has a product but it is pretty close to hard money rates with fees and takes 45 days to close for investors with long track records.

The finished product looks amazing!

There is sealer products that have a grain to fix this type of problem.