Would love to exchange perspectives. 

@Jeff Wallenius I grew up in Sandy and was looking to 1031 some family SFRs into multifamily up there.

I think the value of goods/services exchanged has to be either over $500 or $5000 (I forget which), or there has to be transfer of real estate or the term of the contract has to be 1 year or more.

@Michael Shannon,I'd suggest finding a mentor in your area, that does what you want to do, whether it's buy/hold or flips... offer to come help for free in exchange for experience.  

Strong thread here we are getting ready to do a 1031 exchange and we will be looking for a rentals or a multi family.

@Vilson Nikollaj It sounded like your original statement was to "pay off the first" which means you simply cut them a check, and the first mtg no longer exists, foreclosure is canceled since there is no longer a first mtg....as opposed to "buying the 1st note" which would be paying the first, but in exchange the note is transferred/assigned to you, which means you step into their shoes, and finish the foreclosure.

If any investors would like to let me know what they would think about lending to a newbie such as myself, or maybe even a contract to loan exchange would combine all of my aspirations, I am eager to hear from real people instead of the theoretical views of articles.

On the LL's side (your client) it may be that they're happy to relinquish CONTROL to the tenant in exchange for a lower rate. 

I have had this problem for a few years and have been 'saving' those tax loss for future year when I sell properties to reduce capital gain instead of 1031.

All my clients are selling at 4 to 5 caps and buying out of state doing a 1031.The Iranians and Chinese are buying many of these properties.