He then continued this process in using the rent from the homes that he had paid off to pay down the mortgage on a new property that he would buy. (thecollegeinvestor.com)
You can use a bridge loan (or hard money loan) to make the down payment and monthly payments on the new property until you can arrange long - term financing. (valuepenguin.com)
Even plain 1031 exchanges have enough rules to follow that circumstances of the exchange, such as not closing on the new property fast enough, can cause you to lose the tax benefit. (biggerpockets.com)