Originally posted by Account Closed:@James Barnhart  some RE agents don't understand the investing world.

Now is the time to cash out of this property.In the mean time, you need to talk to your accountant about the tax ramifications.

Dear BP community (specifically the Philadelphia part of it),If you know an inexpensive and trustworthy accountant in Philly, who can help me to transfer my LLC from NYS to PA, please, pass along his info.Thank you all in advance,E.M.

There are late fees, legal fees and pre-foreclosure costs that have to taken into account. 

we get an email from one of our vendors saying she changed bank accounts send the next draw to this new account.. we call her and no new account and it turned out her computer was hacked and they were monitoring our e mails.. when she requested a draw they sent the phony e mail.. 

You also need to consider what you have in your personal accounts. 

You have half the cash that you need, it probably is a bad idea to raid your retirement accounts due to the penalties you would incur. 

There is no fee to open account and you can look up by interests.

My question is, can i used $40k of the 1031 for the down payment, and then use $10k to help fund the escrow account? 

I know of an investor who rents her property located in Historic South Atlanta to members of the movie industry.All the best!