I've been trying to save as much as possible for the last couple of years and I think it's time to take action and pursue what I really want.

I’ve done lots of research and I want to take action I’m very interested into hearing advice from other people who have more experience in the industry.

It’s good that your learning the trade from the ground up.

The permit process can be a pain for trades but it will help you as the owner. 

Now almost 2 months later the buyer is threatening legal action if I do not put 4K in escrow, do I need to even consider this?

In addition, this sounds this would be “trading down” instead of “up” – again, I’m not a 1031 expert, so this part may or may not warrant some additional research.

Looking to take action and find a property as soon as possible.

I am selling my last Rental House in Tampa and we have reached what we who trade the Futures Markets call, "a Topping Channel," because of the dicotomy.

If you bought a company - with the assets, liabilities - then you would have the right of collection and the joy of being sued for the actions of the past principals.Doesn't starting day 1 sound a whole lot better!

Take a clue from the US goverment.Another way to optimize is liquidate properties that don't have the best long term prospectives and trade into better quality assets.