There are numerous stipulations to do a 1031, and the main one is that a holding company must take care of the funds from the transaction.

Thanks.Question....What outs do I have when I put a property under contract with the intent of wholesaling it?

I think one of the main reasons for that is because they really did not understand the industry and everything that goes into it.

I took a high interest loan with the intent of flipping the home and making a big profit.

Ya, I think that is the main thing to look for.

If you have one main running up the wall and then splitting off in different directions once in the wall, they is will certainly cost much more then if you have several splits in the pipe once in the basement.

Follow it (intentional and planned deception to induce the lender to do something they would not approve it) and expect possible jail time if the FBI cares to chase you.

I have since found a commercial building on the main street of a small town.

Sounds great, but there are certain things that you should know. 1) Exit Strategy...although you will likely put a small deposit down and make no payments during construction, you still have to know your intentions and think a year ahead with what you are going to do...ie: rent or sell.2) What if it is built and it is temporarily vacant until it rents or sells.

Find the listing agents fax number and fax them a "letter of intent to purchase".