Im thinking about doing a 1031 into a property there, but know that some of the east side towns have some tough regulations.  

utm_source=search&utm_medium=internal&utm_campaign=booksSimply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

@Lindsey Leavitt Few comments.Insurance is the transfer of risk to the insurance carrier in exchange for your $. 

They've been my home/auto insurer for years, and came out cheapest for multiple policies.I've had several exchanges with the local agent.

The single family we are trading it in for here in San Diego was only cash flowing $5,000 a year.That loan will be with my same local bank in Cleveland.  1031 exchanges are a brilliant way to defer your taxes too!!  

Profits would be taxed.Look at it as if you exchange one asset, the valuation of your property, for cash and such receipts are exempt, there is a form for losses and amounts received, check out the form.

If a lawyer tells you this is the case, you may offer her the three current properties in exchange for your sole ownership of any new properties.

At the close of the sale, the winning bidder must immediately pay (pursuant to local restrictions) the municipality the advertised amount (or less); in exchange, the municipality will prepare a tax sale certificate in the name of the successful bidder.

@Kory Thaut, the 1031 will begin with the sale of the old property.  

Note; on this deal I have partnered 50/50 with a contractor; he is not being paid for the work; essentially he is renovating for free in exchange for 50% profit, so my labor costs are very low (bringing in subs for some small items and day labor to help, but no large labor costs).