The first is 160k, which takes us down to 207k working capital.

Because the money is currently in real estate, if I re-invest the sum immediately after getting it into real estate using a 1031 exchange, long term capital gains will be deferred.

I know it will be a Short Term Capital Gain.

I will start with my first question here: I have access to capital, at least I think I do.

How exactly does the gain "pass through" to the personal tax return as a capital gain?

Part of the enforcement process includes setting a high capital reserve.

Use options so you can minimize the capital needed.You will need to be good at presenting the deal to the possible sellers.John Corey

He gets rid of his loosing property, doesn't have to pay capital gains, gets his full asking price and you get an interest free mortgage on the building for 15 years.

That is because the stakes are high (risks plus capital involved in most deals).Keep the focus on RE deals.

I did pretty well at the GC thing for a while, but when the bottom dropped out of the building market I found I had over-invested and was still under capitalized to carry it through the lean period, so I cut my losses and decided to start over.