It just doesn't make sense to spend you valuable time on the problems (both in real estate and in life).Look at all the people that waste years and years of their lives, suing people over a deal that didn't go their way.

thanks for your valuable input.

At the risk of alienating some agents out there, I don't know of a residential real estate agent certification that I find valuable as an investor.

Jon Holdman gave you a valuable dose of reality.

There are also countless incredible articles on our BiggerPockets Blog that you'll find to be extremely valuable . . . make sure to spend some time there and you'll be well on your way.Good luck and thanks for letting us be a part of your journey.

My plan was to unload the property before cap gains rates increase.

At the lower end the mistakes are not nearly as costly and the knowledge gleaned from those mistakes is very valuable later on.

Originally posted by Steve Babiak:As Steven posted above, your friend should be contacting the QI for instructions on how to proceed so as to not jeopardize the tax-exempt status of the sale of the relinquished property.Just to clarify,1031 exchange only defers capital gain taxes, does not exempt them.

However it is gaining popularity heavily overseas, especially in South Africa.

. $30K, new property is $55K...If the selling price of the relinquished property is more than the price of the acquired property, the difference (neglecting transaction expenses) is your taxable gain ("boot" is the term used).