If there was no loan you would need to use $170K in cash to purchase $170K of replacement real estate.But if your bank requires that all proceeds go to them until the loan is paid off you can still use the 1031. 

How old is the roof, how long until you will need to replace it? 

My thinking was that if a system fails and causes damage to the property, your insurance policy could kick in and help with part of the repair and/or replacement.

I bondowed the dents in the front door, scraped popcorn ceilings, trimmed the trees, replaced the floors (with luxury vinyl plank long before it was the fad.)

I just read an e-book called Replace Your Mortgage by Michael Lush and David Dutton.

I saw that several others recommend Replacement Cost Coverage vs Actual Cash Value Coverage, however, our property value is around 55k and we most likely would not rebuild.

I saw that several others recommend Replacement Cost Coverage vs Actual Cash Value Coverage, however, our property value is around 55k and we most likely would not rebuild.

Property needs deck replaced and more importantly foundation leveled.

There is nothing that replaces a live conversation with someone who has already built that trust with the sponsor over time.

Insurance premiums are reflective of the replacement value of the property.