Anything real estate related is similar, even if it isn't that similar Required Value of the Replacement Property The property being acquired needs to be an equal or greater value than the one being sold - even if the value is dispersed over several properties The 45-Day Identification Window The clock starts the day you sell your property Start looking for a deal before you think about selling the property You're allowed to identify up to three potential deals Some exceptions to this rule like the 95% rule and the 200% rule - seldom used The 180-Day Closing Window Strictly enforced The necessity of an Intermediary The proceeds may never enter your bank account or an account controlled by you The necessity of an accommodator1031 exchange endgame Cash-out and pay all that is due to the government Die and pass it all on - tax consequence disappears Remember to consult with a tax professional before doing anythingCh. 20 FinalThoughtsStart taking action!

Negative lesson : Didn’t buy the homes as investments, but bought out of necessity due to moves, therefore didn’t perform underwriting!

Of all the asset classes, again, I'm a fan of multi-housing given the structure of the investment (multiple, short term leases; housing is a necessity; improving areas will see appreciation in rents and values; you can add value with some capital investment;etc.).Let me know if you have any questions or would like me to elaborate.

After you and your family are ready to make your move from the multi-family to your next home, you would then be in a position to purchase another property without having the necessity of a higher down payment.

It's not difficult, and it's a practical necessity if you're looking to get into investment real estate. 

@Gary L WallmanI hear you and agree, When this thing started , My wife and I thought it would have been better to shut down everything,  the stock market, payments of mortgages, credit cards, auto payment's, everything but the basic necessities for 4 to 9 months.

Street level and local necessity based retail has demand and a place to thrive.

For example, Retail Opportunity Investment Corporation (ROIC), which is a REIT composed of necessity-based neighborhood shopping centers, anchored by national or regional supermarkets and drug stores located in densely populated areas with strong income fundamentals across growth markets in the western U.S, has dropped by over 46% since the start of the year - down almost 20 percentage points more than the SPDR Retail Index ETF.

She's doing what she can to keep her daughters afloat and have the bare necessities.  

This will take time as the consumer needs confidence that their health and job is safe before spending on non-necessities / things that bring them out of their homes.