1031 exchange commercial property.

[Sam Edgin]

1031 exchange help needed.. 

So everything I read about 1031 exchange is the same general information. My question is in particular to multi family real estate. If i were to purchase a 50 unit trailer park, does the rule still apply where i would have to live in one of the properties as a primary residence for 2 years? I understand how this law applies to SFR's but I cant seem to find information differentiating between small residential and commercial real estate. I am curious as to how big time investors with many properties manipulate a 1031 exchange. I don't see a big investor living in a trailer within his park to qualify for a 1031, but they still manage to pull of a 1031 exchange when it is time to sell the said trailer park. How is this done? any actual detailed insight to how this works would be greatly appreciated.