There is no limit, but after #10 the subject property can't be an investment property.

I covered Iowa as a sales engineer for 5 years (technically still do...).

. $975 should be enough to cover the new mortgage payment plus some.

In the mean time promise to put a car-cover over.

That's roughly equivalent to the tax on  $7,000 ish capital gain.It doesn't take too much gain to make a 1031 cost effective.That is a good insight. and it raises a question I have: Can a property bought using Subject To, (taking over existing financing) do a 1031 to another property? 

Some places want an offer before you get into all that detail if so make one subject to inspection of financials and property.Post any details here and you will get pro help.

Hello, I've read a few post on here about this subject but really no hard answer.

As far as risk.... well thats subject to change per person but I concider mine next to nothing.

Partnerships are easy to get into, not always so easy to get out of.I occasionally listen to a podcast done by an attorney and accountant named Refresh Your Wealth that has covered partnerships a number of times, most recently this past April in Business Partnerships – Do's & Don'ts so it might be worth a listen.In any case, congratulations on working on your first investment property, and be sure to say hello if you come to the next RIREIG meeting!

Start watching the free webinars offered on BP.. they may be about different subjects but the lead funnels work the same way across strategies.