Sell and 1031 into house hack?

[Alex Song]

Hey BP family,

My wife and I have decided on acquiring a duplex to house hack in we recently purchased our current home December of 2021.  We did put 20% down on our purchase we’ve thought about taking a Heloc out but we would need a lot to make our next purchase.  

So we’ve thought to sell our home and 1031 into a duplex and house hack.  But ideally we would like to keep some of the proceeds for reserves but we understand if so we would have to pay capital gains on the proceeds we didn’t use for a the down payment  towards the duplex.  

Ultimately we'd prefer to acquire the duplex through structuring a deal with a private money lender convert our current primary into a STR Air BnB and then house hack into the duplex.

Would love to hear your guys thoughts or recommendations on this and thank you for your time for checking out my post.