Escrow of sale proceeds to fund new construction

[Peter Walther]

I own a SFR in my individual name used for rental purposes. I'd like to sell it and work with a QI to use the funds to construct a new SFR to be rental. Has anyone here done this before and if so, what was your experience. Is it possible for me to later occupy the property to claim the $250k tax exemption for proceeds from the salesale of a principal residence?