CT is where I am located and for this state it's 5% EMD and the rest no sooner than 21 days but no later than 30 (that timeframe is when the closing process with the seller/borrower will take place)...But since my state has a judicial foreclosure process and every step must be court-approved I just wasn't sure if I have to put down 5% EMD before it gets approved or after(I want to note that the clock for the 21 to 30-day timeframe to close doesn't start until the court approves the sale) 

This can help keep you in a lower tax bracket each year, potentially reducing the total tax you pay.

They bought several years ago though at lower price points, so I'm not sure how well those properties would pencil out with current pricing and interest rates. 

Drive a 2009 car that is paid off.I'm taking this next year to rent in Chicago (rent is about 1600/month) but am starting to seriously think about house-hacking and want to start talking numbers now so that I might be ready to close about a year or so from now. 

But the real value a 1031 intermediary brings goes way beyond simple document prep which is what the lower cost internet sources offer. 

@Eric Carr Another possibility is to start taking $ out of your 401k (or equivalent) at 59.5 an amount somewhat close to your RMD.

And they will take 725k in cash if you pay for the closing and commissions... 

I am interested to see if lowered interest rates even helps affordability or just raises prices. 

Everyone needs to check state law closely.

Westchester 2-4 unit properties listed from January - May:2022: 2332023: 177 (Lower inventory likely due to the market adjusting to 6+% interest rates)2024: 274Lastly, since you're looking to acquire something with more favorable #s, you may want to begin your search with the "ugly" deals that have been on the market longer.