The requirements of the 1031 are that, in order to defer all tax, you must purchase at least as much as you sell (net sales price before mortgage payoff).  

Sellers often hire a auction company, which advertises the property for sale and typically hosts maybe one open house to show off the home.

Here is what we know so far:Out of state land lord Has been for sale for more than 3 monthsAsking price 240kBuilt in 1981Each unit is 1050 sqft 3/2 with utility roomRent is $1050 (I have not seen the actual numbers this is what the real estate agent told us)Landlord is paying water and trash but don't have those numbers.Two units are currently leased Last roof: unknown AC and water heaters are currently working but do not know when they were last replaced.

Any less and your in short sale territory.

Charge you for a long contract of sale with contingencies in itConfuse the dealYou may want to consult with someone smarter than a lawyer - like an experienced investorIf lawyers were so smart, they'd be investors!

HiI am from Northshore Chicago,would like to invest in  property went from short sale to direct into auction ,but don't the process of auction very well.

Anyone have an overlying business with multiple business underneath (operations, sales/career income, prop mgmt, construction, etc)?

ARV, and size of the complex... are there many other identical (or close in size and floor plan) units for sale?

It would most likely trigger the due on sale clause.A scenario that may work though is if the amount remaining on their mortgage is less than what you are willing to offer as a down payment or they were willing to pony up the difference.

The deal was looking good....until I found the loan modification from 2014, where HUD took a lien for $28K.This will likely be erased in the foreclosure sale.