I see the discussion, but it's talking about the amount "Jim" can take for the next loan, not anything about the time period between when one loan is paid off and the time until he can request a new loan.Asking more out of curiosity, I would be surprised if John Hancock had something incorrect posted on our retirement plan web page. 

I don't necessarily like it since it turns off a lot of clients but they are one of the few lenders that require it to move forward.

Can anyone tell me if carryover basis restarts at 27.5 years in a 1031x, or is it excess basis at 27.5 and carryover picking up where it left off?

So the 600k includes paying off what they owe Unison. in the case of a refinance they would still live there, we would just be getting them out from under Unison in exchange for our names in the title and getting the house once they pass.

Point being - if it is a nice house, and an INCREDIBLE deal at the opening price, you will likely find lots of bidders bidding - and the price will ultimately end up being 10-15% off what it would sell for on the open market This is definitely not a certainty... you hear stories all the time where someone gets a hell of a deal... you just never know... but on average (where I'm at)... nicer houses sell for a price that is discounted, but not a crazy steal. 

My mortgage is almost 1/3 paid off.

You need to know that you can take care of your financial situation and really talk out what you think is a great financial situation before you “jump off the cliff” with people who are where you are wanting to get to.

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Does it make sense to pay it off instead of investing in another property because it’s already proven to be successful?

If you plain simply want to pay off the hard money loan, you can go up to 80% LTV on a rate and term refinance, with no seasoning requirement.