Then I could cashout refi and pay off the lot loan off assuming the cabin or barn is valuable enough.

Any insight is helpful!

We still have a lot to learn and any insight, advice or tips about buying single family homes, BRRRR strategy, and out of state investing would be awesome!  

What are everyone's thoughts .I appreciate any insight or help. 

  ABSOLUTELY NOT  1031 has time restrictions to identify and purchase like kind and typically you'll  buy a more valuable and thus more expensive Rev gen property to avoid the punishing penalties paid on the Boot( cash in ha d because you selected an exchange property that was fewer dollars than The sale price of last property go to irs site and read sec 1031 it's been there a hundred years it's really clear 

Any insight would be helpful.

@John Lee interesting question and as an active duty Marine officer I have some insight into this situation.

I had not accounted for this big of water bill charge - looking for way to minimize/cover this.Any help/insight will be greatly appreciated!

The biggest pro to this deal is that the seller will owner finance for 5 years, a major perk for me as i only have so much capital and elders are hard to come by with deals in this price range.Any advise or insight would be appreciated.View report*This link comes directly from our calculators, based on information input by the member who posted.

Thank you for all your insight, and I welcome any quotes from insurance agents.Randy