Using a bank is the cheapest option and highly recommended.

In any event, I don't believe a 1031 is an option here because you didn't buy the property to use as an investment, you bought it to fix and resell.

They're both reliable options with good flushing power and low water usage, which is great for a rental where you're footing the water bill. 

Hello BP Community,I'm exploring options for a commercial property in Long Beach, CA currently held in a living trust.

Lots of options but you will want to select a sponsor with a track record and an investment you are comfortable with.Make sure to do lots of due diligence

You might want to research this option. 

Well Karma, my advice to folks is: Go residential and learn how to solve problems for sellers and buyers.There is a video on upper scale homes that have little equity herehttp://www.selectleasepurchasehomes.com/ Learn sub2, lease options and wraps for controlling or acquiring. or....

If you decide to proceed, record everything. 3) Many ways to go about this but you should consult an attorney before even going over there to review your options but you will likely have 2 main options all of which lead to him moving out: - You can go it the nice way and offer keys for cash, you pay him (an amount less than you would pay for legal fees) to move out; the contigencies are that he must move out all of his belongings, sign a termination, and you pay him on the day he leaves at the door as he is moving out (you then change the locks) - he's out and you have a signed termination, the end. - You can go it the more heavy handed way and you will likley be able to file for an emergency eviction becuase your property is being destroyed, to do this you should take photos of the damages during your walk-through. 

Start this process so that they know that is an option and available to them.

I'm exploring options and this seems like a good way for me to purchase the next deal but I'm treading lightly as using unsecure loans sounds pretty risky and of course I need to consider ALL things including their terms, market conditions, capital on hand (about 30k to invest) and my strategy which is to BRRR.