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Updated over 6 years ago,

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5
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2
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David Glascock
2
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5
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1031 Expert needed for Indiana/Kentucky

David Glascock
Posted

So my wife and I own a rental property in Indianapolis, IN that we are going to sell.  We want to take the proceeds of sale and put toward a rental in our new state which we would be doing via the 1031 exchange.  I know that you have to buy a like property for the 1031 exchange.  Can we buy a multi unit property and live in one unit and the 1031 still work?  Would this qualify?  The rental in Indianapolis is not a multi unit.  Thank you for any guidance.

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