The building is condemned and the land is worth maybe $5K.I know this a lot of information and kind of a vague question, but I am in a very unusual spot and Covid has complicated an already difficult situation.

The 1031 Exchange process is complicated. 

Most are tied to a brokerage and focus on doing higher volume of easy transactions and aren't interested in complicated "out of the norm" sales.E-Title out of Detriot, Legacy out of Clarkston or Lighthouse out of Hastings can help you. 

We tend to over complicate things 

I am not totally against LLCs, I just think you don't need them when you are just getting started because it just complicates the transaction and I am a fan of keeping things simple.

Sounds like it too complicated so not a large figure and a two family property.

@Pat GoodyearWhat was your anticipated exit strategy when you first started building your RE portfolio before life got a little more complicated with kids and a second job?

After explaining the below to his lawyer, the lawyer said it was very complicated with several tax implications (which we are trying to avoid of course).

If you could not come up with the $60-70k to close on the home, then I would consider doing a cash-out refinance or a HELOC from one of the two free-and-clear properties to fund it.Further, because this is the lens that I see things through, I'd go ahead and refinance my free-and-clear properties to redeploy the capital AND create a stronger inflation hedge.So, it really does go back to your personal goals, because ^^ might seem unduly risky, unnecessary, or perfect. 

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.House hacking will complicate your tax return.