Took the proceeds and put them into a 1031 exchange to be used on purchasing a long term rental.

If I proceed, what’s the best approach for financing, including downpayment and loans?

Either way, have the attorney lined up to proceed with the eviction immediately upon closing on the property.All of this advice is state-dependent.

Am I allowed to accept partial/full payments once eviction proceedings have started?

Thank you for the recommendation; I'll keep him in mind when we're ready to proceed.

She proceeded to fill the entire common entry space with decor, message boards, side tables etc.

Unfortunately, your accountant is right about this one.In a 1031 exchange, the goal is to roll over all the proceeds into the new property to defer the capital gains tax.

At the end of the day, the purpose/use of the proceeds is for the borrower's personal home (i.e., personal, family, or household purposes), which puts this loan squarely in the consumer loan category.

My name is Brittney, my husband and I are in the process of starting our own fix and flip investment but unsure how to proceed and get our first investor, preferable a private money lender because we dont have the capital, or credit to get a loan and you have to wait at least 6 months after opening an LLC and getting a business line of credit in order to apply for a loan.

Absent one, sell and split the proceeds based on their cash contribution to the purchase.