Section 1031 does not apply to exchanges of: Inventory or stock in tradeStocks, bonds, or notesOther securities or debtPartnership interestsCertificates of trusthttps://www.irs.gov/newsroom/like-kind-exchanges-under-irc-code-section-1031

If you have some questions on anything feel free to call Boo or Logan at our office - those two guys can answer any questions you have to make sure you're getting involved in the right program for you :) And don't worry - they're not your typical commission hungry sales reps, John pays them hefty salaries and they know their  biggest priority is to find out what each person actually needs and see how we can help them so you won't be pressured into anything.

@Timothy M WeberAs a contingency I would certainly want to look the leases in detail Look them over Good *before I agreed to the sale I also would specify that the seller is to give notice and get sIgnatures to all tenants in any and all units involved that they must vacate and the lease is not being renewed .

In your case, this would apply. 

We purchased a duplex in a beach community that needed rehabbing(one half had been demoed to studs) after purchasing and applying for permits we find that fema limits the rehab to 50% of the apparaised value of the house.

Again, I don't mind working the system for free money, but it's really poor form to do something like that without telling the other person involved.

However, does this apply to all surrounding areas (Dorchester, Roxbury, etc.).

Would the play then be to pay for everything cash and later apply for a LOC on the new appriased value?

I am looking to use some of my own cash plus hard money for my next deal, but how do I show proof of funds to get the deal under contract if I have to have it under contract to apply for the hard money?

He suggested a Partnership called "Tenants in Common" as a way that you keep control no matter what you contribute on a property's price and have different agreements with all Partners regardless of their percentage of their contribution of the purchase price.Whatever you do just be careful, understand it, and feel good about the Partnership or anything put in writing that's a business liability of your personal involvement or responsibility whether it's monetary or not.Good luck to you!