Selling rental 1031 and buying personal residence

[Narendra Patel]

Is it possible to sell rental using 1031 exchange and buy new property for personal residence ,I had lived in previous property for 2 years and then rented it out for last 10 yrs.

[Bill B.]

The closest you could come is buying a duplex that costs twice as much as your 1031 sale property. (Or a triplex that costs 50% more or a quadplex that costs 33% more.)Then you could use the exchange as a downpayment. Use more than you sold as your new rental and  live in one unit as your new primary.