Hi, I am looking to sell my rental property in Edgewater and want to buy a rental property that generates good cash flow shortly after the sale to qualify for a 1031 exchange.

This will help you to go through all the different loan options that are out there and help you to decide which product - A- that you qualify for and B- fits your specific needs. 

This matters a lot when considering building your SREO while qualifying for subsequent properties.

However, if you need traditional financing through a lender you will find that this property will not qualify for traditional financing since it has a second "livable" dwelling on the property.

This has been a tough road, and we've grown by leaps and bounds in terms of our renovation understanding and our landlording skills.

I’ve been working at a dealership for a few years now so I qualify for a mortgage I make decent money I believe I could use the money in my 401k as a down payment that I may have to payback.

Itemized receipts are also needed when you check if you qualify for the safe harbor I was mentioning above. 

Here is a hypothetical scenario for the borrower:Assuming the loan is against a 2-3 family rental bought with cash.New investor, first investment propertyOwned by an LLC (single member)Want to pull cash out for another deal.The single member would qualify for a conventional loan (good credit, low debt to income etc.)

There are some other tricks that will allow you to take back ownership quicker if you have to so seek out someone with superior RE skills and legal knowledge in your area. 

I want to learn some skills such as how to find deals in my market, estimate repair costs accurately, attract tenants, etc.