They say there is no better time than the present, but it is definitely a little harder during a pandemic.

Stay safe and healthy at this present time!

Most properties early on will typically need about 10-15k in stabilization monies to fix deferred maintenance and CAPEX, and you have vacancy walking in you want to prepare for. 

To have a fully tax deferred exchange you need to replace all of your equity and all of your "debt value" as well as trade equal or up in value based on the net sales price of the property you sold.

@John LynaghI am confused with some of your posts - I am reading that they have saved or come close to saving 35% in the past 3 years but then I read they only have a budget for 1 month of activities.I think you need to present the financials of the coop/condo to a professional and get their judgement. 

A property is in default and the lender will consider foreclosure, not sure sale, unless the owner has the property listed for sale, on the MLS, and presents an offer for purchase that is less than the balance of the loan.

We try to have education and discussion with them and the banks The valuation and net equity numbers should at a minimum have an asterisk as the numbers you present could lead someone with insufficient knowledge to believe they have a good chance of being able to add an ADU as a value add, then refinance it at 75% LTV with conventional loan and with you valuation be able to extract all or their ADU costs and maybe all of their primary property acquisition. 

We've already offered discounts and deferred payments to some of our smaller businesses.  

Best bet would be to get hold of Dave Foster on BP as he is a QI and has been very good about advice.This is an important piece - a good QI protects you from violating the essence of the 1031 which is you defer gains by never, ever, touching any bit of the proceeds from the sale. 

My tenant's girlfriend and their 1-year old toddler were all present during this altercation.