All Forum Posts by: Randy Stark

Hey @Peter Morgan , I don't consider that hijacking :)   

It's fun to learn and explore all of the ins and outs of this 1031 thing.

In your situation with the owner occupied duplex, would you also have the opportunity to take advantage of the primary residence tax exemption, rather than delaying taxes with a 1031?  I believe if you sell a primary residence in which you have lived 2 of the past 5 years (and owned for at least 2 years),  you are not taxed on the gains.  But you may still be on the hook for half of the duplex (so half of the gains?)....and whatever depreciation you have claimed on the rental side since owning it.    Any CPAs who want to chime in on that?

Thanks so much for the advice, @JanetDavis and @Sean Ross !

Would the qualified intermediary need to be located in the city or state in which I reside or am "exchanging" the property?

Hey BP geniuses! This is likely a simple answer, but I just don't know it yet. I'm wondering if the 1031 exchange gods and/or goddesses of the universe allow us to sell a SFH (with a garage apartment, but zoned R1) and 1031 our profits into a multifamily (either less than 4 units, or greater than 4 units). Please enlighten me!

I've read a lot of advice to form an LLC for investment real estate to shelter myself from liability. Are there any barriers to obtaining financi

THanks for the advice, friends!   I like the mini-split idea...I will check into that as an option.  

Thanks for the replies, everyone!

I haven't bought any land yet.  Still in the idea phase.  But I would most likely buy in the city limits in an area that already has utilities and plumbing infrastructure on adjacent properties.

Would anybody with experience on retrofitting an older duplex with central heat and air feel like offering some advice on how extensive that project can be?

Dear Forum Peeps,

Does anybody out there have experience/knowledge about developing raw land for water and electrical hookups for a tiny house (or tiny houses)?  I want to learn about the logistics of the actual work, as well as the permitting process and requirements in Oklahoma City.  Thanks!!