Hello guys, My wife is planning to take some money as a loan for buying a property. The property is located in Ontario (She is from CA). The catch is, there are a lot of rates and fees applied to mortgage services. An...

Before reading your post, I spoke with them as they are used to doing Subject To deals and they said that the policy holder would switch to my entity name with the mortgagor's name as secondary - I am interested to see what their feedback is with your suggestion -- as your approach seems to send less "red flags".

I left my previous job in the Tech world in search for adventure (found a sailing boat) and have just made my first single home purchase in order to get my hands dirty and learn by doing and most possibly messing up a few times. 

I'm looking for a small multifamily in the area to live in one unit as an owner-occupant and rent out the rest of the property.Any suggestions and advice will be very welcome.- Nicki in Philly

Though I wouldn't suggest that as your only method of making money since the amount you'll get paid will not be very high. 

Thx.My best suggestion is to look at Airbnb comps to see if there is demand in the area your son's house is in.

Either the deed passes and your 1031 has to start at that moment, or a contract for deed is signed as he suggests and that too triggers the start of the 1031. 

@Troy Gandee thank you for your suggestion.

There's a cost converting to, and another cost converting from.I would suggest that if there's a large enough capital expense to set it up, but it doesn't quite work out the way you hoped, just keep it anyway and eat the costs.

I would suggest the following:1.