They're also less risky (legally) for a limited partner investor and have the backing of professional experience, etc.

I also attended a TREIA workshop on legal issues for landlords and had a real estate attorney review my application and policies, and I do move-in inspections with new tenants so everything is transparent and covered up front. 

@Joshua Callanan In Maryland, I go to the Department of Taxation website and search the legal entity search.

I contacted an attorney and he will do it for a $1,000 retainer as well as $250 per hour for the legal work involved.

It was my first investment and it wasn't much of a deal but on a 15 year note had rapid debt pay down and years later was able to refi and purchase a mulit-family.

If this is your personal home where you live currently or lived until recently - then you do not need a 1031 exchange and likely cannot legally do it even if you want to.

It took an additional 4 months to close and the seller ended up spending $25,000 in legal fees to clear the title.I'd get the advice of a real estate attorney. 

Keep in mind tax aspect may be different from a legal one, so you may want to consult with both: an attorney and a tax accountant.Disclaimer: I am neither tax or legal professional so this is based solely on my experience.If you would like more details about my personal experience feel free to PM me.Best!

Some banks I've talked to will loan 80% of appraised value minus the the debt owned.

In Portlandia were are see price concession and or free rent etc on some of the new build real high end 2500 dollar elevator buildings on the east side.. this is happening now.form what a friend of mine who owns a management company with 6k plus doors was telling me at lunch.a few buildings are stressed right now.take this scenario.. you buy the land 3 to 5 years ago it takes at LEAST 2 years to get through permitting then another year to build.. cost of building in this time has gone up 10% or more.. land is static .. and your proforma show this ever increasing rent.. you now come on market and your 4 story elevator building now cost you 400 a foot to build.so your in a new apartment 400k.. you need 2,500 a month just to hit your investor grade 4 to 5 cap.. and now rents start to pull back as they are or lease up is very slow at those values.. so you have full amount of debt on the building and of course everyone these days has max debt.. so debt service and DCR ratios start to go out of wac  you have annual reporting and loan covenants .. you no longer meet your covenants and you have a cash call to your lender  along with negative cash flow.. this is what I mean by some are stressed..