States have no say in how a 1031 exchange is accomplished.  

We all over estimate what we can do in a week but under estimate what we can accomplish in one year.

Supplemental taxes may be assessed whether a new loan is obtained or an existing loan is assumed to accomplish the purchase of the property, or whether the property is purchased without financing.

I really enjoy the feeling of accomplishment, and pride for the work that I do.

My end goal is to quit the 9-5 and live off of my investments; however at this rate it is going to take years to accomplish especially since we will not be debt free for another 2.5 years, meaning I will not purchase my first investment property for another 3.5 years.

Lastly, will a self-directed 401k allow us to accomplish our goal of reinvesting into LT rentals?

Here are your options as I see them:Partner with someone who already knows how to do what you want to accomplish and learn from them throughout the project; (I did this back in 1975 to learn about community development and management.

I find taking photos while standing in a corner of the room accomplishes this. 

After reading your, and some other experts, books on Multifamily I am convinced that my success will be a function of continuing my education, networking, being creative, and having an unrelenting perseverance to accomplish my goal.I look forward to sharing my first deal with you and the BP community in the very near future!

What are you trying to accomplish?