Easy Chris LOL I am just writing what he is shopping for and no they're no in an LLC.

It's really easy. 

You may have a different benchmark there, but it is pretty easy to see if they owe way more than the home is worth.  

It is an easy read with lots of great information.   

They pay $300K for a 3bed where they are and rent for $2200/mo, we pay $65K for a quality B class property and rent for $850-995 with rehab complete and management in place to make it hands off and as easy as buying a mutual fund, with far better control and performance.  

Just be careful not to throw the baby out with the bath water and rule out good areas.

Additional info:primary 1031 exchange rules and requirements include: 1) same taxpayer: the taxpayer who sells is the taxpayer who buys, 2) property identification within 45 calendar days post closing of the first property, 3) purchase of the replacement property within 180 calendar days, 4) trading up: the price of the replacement property is equal to or greater than the old or relinquished property, 5) hold time supports the intent to hold for investment, and 6) related party transaction regulations. 

There could be several ways to achieve this but knowing the subdivision rules is key. 

It seems to me like an easy 3% ish percent equity gain or a way to reduce the loan a little and increase cash flow a bit for almost nothing, that's my thought any way.  

It is very easy to install as well.