At the risk of alienating some agents out there, I don't know of a residential real estate agent certification that I find valuable as an investor.

Jon Holdman gave you a valuable dose of reality.

There are also countless incredible articles on our BiggerPockets Blog that you'll find to be extremely valuable . . . make sure to spend some time there and you'll be well on your way.Good luck and thanks for letting us be a part of your journey.

My plan was to unload the property before cap gains rates increase.

At the lower end the mistakes are not nearly as costly and the knowledge gleaned from those mistakes is very valuable later on.

Originally posted by Steve Babiak:As Steven posted above, your friend should be contacting the QI for instructions on how to proceed so as to not jeopardize the tax-exempt status of the sale of the relinquished property.Just to clarify,1031 exchange only defers capital gain taxes, does not exempt them.

However it is gaining popularity heavily overseas, especially in South Africa.

. $30K, new property is $55K...If the selling price of the relinquished property is more than the price of the acquired property, the difference (neglecting transaction expenses) is your taxable gain ("boot" is the term used).

The most efficient way to handle this IMO is to pay have your friend hold a note or if he wants and equity position treat it as if he is holding a mortgage at an agreed rate of interest and you may even want to include him in on a percent of the gain if the property is sold.

If it falls thru, then there's nothing gained, and very little lost.Lynn (FL)