Applying the 70% rule puts you at $280,000.

With a TH, I would also consider that you probably have a HOA to deal with, HOA dues which can vary and the HOA may have rules about who or if you can rent, need to check the covenants and bi-laws.

That has to be accounted for.Now, if the person is just lending your own LLC the money, then pretty straight forward loan documents would apply.Feel free to come on out to the WCRT again and we can discuss some of those questions.

Even though I was so close to list, I didn't want to break my own rules/numbers, and quit offering. 30-days later (lack of tracking on my part), the list price was reduced, below my latest offer, and was sold within the day.

I'm basing my opinions on the fact that my lender could care less when the new rule came out, and I have not been notified of any major changes.

It's an eBook with a wealth of information on setting up these plans, including many of the rules, pitfalls, legal interpretations, numerous links, as well as a sample LLC operating agreement useful, apparently, in Arkansas.

It would make me very nervious when someone does not follow all the rules.

Move QUICKLY when you find one, and don't rule out the MLS completely.

I don't know the rules on a Reverse 1031, but on a traditional, I believe All the cash equity from the sale property has to go into the buy property(s).

I understand the 90 day rule but other than that do I have anything else to worry about once that time frame is up?