He sold his home in NY, moved to FL, put the proceeds into his home, and the litigants found out they can't go after him.

Thoughts on market conditions in the PNW, and potential investments with proceeds from a sale. 

A few of your tenants burn to death and you get sued for $50 million.The LLC for the property is supposed to make it so most money the Plaintiffs get from you is the assets in that one LLC, but since the court says your damages are $50 million then the attorneys can easily get your personal assets in your other LLC's and assets not in LLC's. 

My understanding is also that loan proceeds are not taxed and therefore since we have only $11k in debt and almost $200k in equity we could afford to get a LOC or other low cost loan to finance the improvements and have a non taxable event with the little bit of interest being tax deductible. 

I currently have a wholesale deal in which the seller would like to 1031 her proceeds.

So they file in court a mechanics lien to recoup their expenses/court fees.

If they convict it is probably only 30 days if it is a first offense and the criminal courts are backed up too.   

But it’s proceed with caution.

We are selling and doing a 1031 but it has complicated matters with my parents on the title because I have a second 1031 rolling (parents not on that title) and want to combine proceeds into a single replacement.

However if there are no descendants or lien holders to initiate probate proceedings, is it possible for an interested third party such as myself to do so?