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Updated about 4 years ago,

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6
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William Latti
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6
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1031 of single family to multifamily with one unit as primary res

William Latti
Posted

My tenant is interested in buying a single family home that has appreciated quite nicely since our purchase. The numbers don't make much sense any longer as a rental should he leave or we were to refinance.  I can also avoid some of the realtor fees with him as the occupant/purchaser.  I currently am in a unique situation with Covid as I can work anywhere and am past the point of my current primary resident multiunit where I could again qualify for a primary residence loan.  My question is can I do a 1031 exchange from this single family to a multifamily, with one of the units in the multifamily being my primary residence to qualify for the lower interest loan with less than 25% down?  

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