All the 1031 exchange does is defer the taxes to a later date.  

@Bryan C.I would lend on a minor rehab, like fixing an outdated kitchen, $10K to $20K, quick resell, make 10% in 2 months, do it 5 times a year.Either you or a REI goes to expired listings, offer to buy house with dated kitchen or bathrooms, You give a note for equity, use your IRA for rehabFix and resellYou get your IRA money in 2 months plus 10%.

You'll probably need to sign a specific lease stating they can move in after X date and that they will pay X upon move in. 

Fast forward three years, nearly do the date, my house in the Dallas area will again be sold FSBO as I have returned to Vegas. 

when I look back one of my best years in buying foreclosures was 2004.. now I attribute that to the fact that the internet had not fully taken off Regarding RE.. so you still needed to have those particular set of skills that I learned from the 1970's on... now with the interenet its flooded the market with investors who here to fore would have never competed with me as it would have been to tough and complicated.Even BP is  perfect example of free on  line training.. for better or worse depending on your perspective.

Here is a link to the post with the dates for this year:http://www.biggerpockets.com/forums/521/topics/187711-denver-april-27th-meetup

What @Bill Gulley just wrote is what happens with banks and loans in arrears, and mortgages in default.Watch out.Look for current mortgages and make some money on sub2, lease options and wraps as acquisition strategies, or just pay all cash with JV Partners, Private Lenders, tradiional 20% down banks, or Hard Money Lenders.ever read your "foreclosure rescue" internet threads on the FBI site or the Attorney General sites? 

We only have internet from our ISP, no home phone or cable ($50).

The first line of my addendum reads: "This Addendum incorporates by reference the P&S Agreement between the Seller and Buyer dated ___, and should any inconsistency exist between this addendum and the P&S Agreement, this addendum shall control." 2 Critical Terms to My Addendum:1) In California, the standard P&S Agreements / Offers Forms contains language that an assignment can only be made if you get the express written consent of the seller.

Individuals who wish to obtain auction dates, subscribe to the email list, or obtain the terms and conditions may go to http://www.BIDKW.com.