1031 fourplex into a single family

[Sung Yu]

Does anyone have experience exchanging their small multi family property into a single family home, use it as an investment property then move into it as a primary residence after meeting the requirements? I'm looking at rolling over ~350k into the replacement property. 

Projected sale: 950-990k 

Replacement property budget: 990k - 1.1M 

Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

[Bill Exeter]

@Sung Yu the above posts are right on the money.  You must have the intent to hold the relinquished property and the replacement property for rental, investment or business use.  The longer you hold the property for investment the easier it is to demonstrate that you did in fact intend to hold the property for rental or investment purposes.  However, there is no specific holding period contained in the tax code or regulations and there is no "safe harbor."  It all boils down what you can demonstrate should you get audited. 

Most advisors consider the two (2) year holding period mentioned above to be very safe, but remember it is your intent that matters.