Only catch: they want to rent for February (1200/month).

If your sale was for $200K you could name 3 $5million properties on your list - the catch of course is you'd have to close on at least one of them to complete the exchange.200% rule - If you want to name more than 3 properties on your list you can as long as the aggregate value of the list is no more than 200% of the sales price of your old property.  

Could be a while until they catch up with you, but the government wants their money and if you buy at $285K, there isn't much way to deny that it's worth that amount and that a reassessment at that number is valid.

Meanwhile cash flow pays the debt while you catch your breath.

If you are fishing and using net - you'd want a large net - you'd catch more fish - to me real estate is about cash flow or equity - the net I use is radio - TV - direct mail - farming.

I would just need to take a brief course and go through a certified Realtor/lender.This sounds too good to be true so I would like to ask what is the catch and do you think I would qualify?

It usually (but not always) catches the BP Meet up open house post.Good luck

Some lenders might underwrite to lower proceeds to maintain debt yield or DSCR thresholds and that might catch some buyers off-guard if they can't raise the additional equity or if raising additional equity drops the IRR below marketable levels.Why are rates moving?  

@Christopher VerissimoI don't believe Boston offers this program, but there are many towns that do offer a program similar to what you are describing BUT the catch is they provide funds to make the illegal apartment into a legal one if you qualify.

Apparently they were using that as a "catch basin" and then periodically dragging it "down back" to empty out.