That would defer the tax on the other 50%.The only fly in the ointment I can see is that when your parents were buying that property initially to finish up the first 1031 they had to have the intent to hold it for investment purposes. 

I'm located in Central Washington (Wenatchee Area) and I have a Cash Out Refinance scenario that I need a solution to and i'm hoping you all can enlighten me on some ideas or referrals.We have 2 properties (1 - Four-plex, & 1 - Duplex) with 2 loans that we would like to consolidate into 1 loan on the 4plex with the duplex then owned free and clear to make available to open a LOC for future investing opportunities as they arise.We owe 158 on the 4-plex and 91 on the duplex for a total of 249kthe initial appraisal came back at 300k for the 4-plex but it's very low for our local market.

What are the steps we need to make sure we are completing for a cash offer and purchase?

If they are cash flowing, they bought that cash flow with more initial equity in the deal.

I haven't heard anyone anywhere really lay out a solid step-by-step strategy for using a HELCO in this manner.

Just took my first step into wholesaling by buying a absentee owner list from list source.

I have a tenant I need to try and renegotiate the amount because it is not profitable for me to rent at the initial negotiated amount.

I just received some documents to sign/initial from both my realtor and the selling realtor.

This is my first time buying a property and going through these Steps.

B would be a step down from that and typically will at least have a pool and gym, maybe a little off the prime location.