Hi Matt,1031 ExchangeFirst, in order to qualify for 1031 Exchange treatment you must have the intent to hold the property for rental, investment or use in a business.

So, they could potentially receive tax free treatment for up to $250/$500,000 in gain and the balance (if any) would be deferred into another rental property via the 1031 Exchange.

without anything i writing and signed and notarized your swimming against the current on this one. you might have text but now a days you can delete what you want out of the log to make it what you want even if you printed it out or saved them on a computer you can still edit them they way you want. idk what your lawywe was talkin about but i would just give it back and just call back the 10-20 other interested parties. depending how long ago you denyed them they still may be seeking a apartment. much easier then all the legal night mare stuff.

Example, if the PM Lender has say 25K to put down on a 100K property and I was seeking a loan for 75K.

By the way, the mortgage is paid off, couldn't i seek owner financing as an other option ?

So I have gathered from a previous post to go and seek out investors at REIA meetings to find a mentor.

Most likely under the contract terms you are liable if you do not apply for and seek financing.

I'm currently in an owner occupied duplex, and I'm seeking a second property.I called a mortgage originator yesterday that I used for conventional financing on the first duplex.

If you have a local address you might pull in some of these guys seeking work under your umbrella.The city of Joplin directed much of the rebuilding through the permits and in reality it was hard for out of towner's that had no track record that could be shown to get work.

If the 1st mtg actually made the connection with what happened, I don't know how much that would increase the odds of them seeking the deficiency, but it would certainly be incentive for anyone who may have bought that remaining debt from the 1st mtg holder, with that much equity.