A couple of years ago I sold an LTR and 1031-exchanged it for an STR in the NC mountains.

With that you are CHOOSING to pay the lender some money up front in exchange for a LOWER interest rate.

The foreclosing entity will file a motion for relief, get it granted, and after you bought 30 days in exchange for destroying your credit, they go to sale anyway.

We’re always happy to share our experiences and learn from others in the field.Looking forward to connecting and exchanging knowledge.

@Greg Devlin - in addition to Scott's advice, have you considered a 1031 exchange to reduce your capital gains? 

Has anyone done a 1031 exchange like this? 

And what are the requirements for those funds during that transition (i.e. do the funds have to be in a separate, isolated account - or escrow - similar to 1031 Exchange) when/if there is a time between the Sale of the first and Purchase of the replacement?

This book is your ultimate guide to tax-free retirement and estate planning using 1031 exchanges and DSTs.

Currency exchange rates can also affect costs.

Another option if your profit is over that amount is to convert the property to a rental which would then qualify the property for investment use, Then do a 1031 exchange after a year.