As pointed out, the loan fees and such are usually rolled into the loan meaning you are paying interest on more than just the principal of your home at that point. 

But they still kept ignoring my e-mails.Right after I filed my complaints, his customer service then started to respond to my e-mails the very next day.

Even if that is not your intention, the IRS could decide that is what it was which would mean that the seller would have lost his 1031 ability since he "sold" you the house when he accepted the first payment.

Their website is pretty thorough as to the process.

Hi BP, I'm an investor from the Portland area.

Brand new to REI,  and taking the plunge into PRO.

@Shivani Brijmohan, while I cannot speak to NY, I will say in general:You should know how the property will be reassessed when you buy the property.  

This is a great place to learn and to connect with people so take advantage of all the great resources.

The Airbnb paid for almost all the expenses of owning the home and my "rent" was just putting $200-300 away each month in savings for maintenance and capex.

It’s going to be hard to get more than the property’s worth.