1031 into a house hack?

[Michelle Bright]

Can one do a 1031 exchange to purchase a multifamily property (2-4 unit) that will be owner occupied? I know it would be considered a personal residence but it is also an investment property. Gray area?

Thank you for all the help!

[Cara Lonsdale]

1031 must be like for like.  If you are purchasing with the intent to live in it as a personal residence, it would not qualify.

IF you purchased it as an investment property and later down the line converted it into a personal residence, there are ways to do that.

However, my guess is that you want to purchase it as a primary residence in order to have a cheaper cost of entry??  That would be a no-go.  I don't think there's anything gray about it.